LatinNews Daily - 19 October 2020

*Colombia’s national statistics institute (Dane) has reported that industrial production fell by 10.3% in August compared to the same month in 2019, bringing the cumulative contraction in the first eight months of 2020 to 11.6%. After a 35.8% year-on-year decline in April due to the quarantine measures imposed in response to the coronavirus (Covid-19) pandemic, industrial production in Colombia had seemed to be recovering, with just an 8.5% year-on-year contraction recorded in July. That this figure fell again in August is a worrying sign, and a further indication that the economic impact of this pandemic will be difficult to bounce back from. Dane director, Juan Daniel Oviedo, attributed this stagnation to the weak performance of sectors including drinks manufacturing, clothes manufacturing, and hydrocarbon refining.

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