Weekly Report - 7 March 2006

COLOMBIA | Upgrading industrial performance data. As a result of the growing discrepancy between the statistics on industrial output produced by the official statistical department, Dane, and the association of industrialists, Andi, the former has conducted a major updating of its methodology, which has led to results similar to Andi's. The discrepancies grew during the period of greatest appreciation of the peso, 2004-05, and reached the point, in October last year, at which Dane was reporting industrial growth as 2.66% while Andi was reporting 7%. As a result of the adoption of a new methodology, Dane will also have to revise the calculation of GDP over the past couple of years.

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