BOGOTA, May 18 (Reuters) - Colombia's industrial production and retail sales -- accounting for almost a third of gross domestic product -- fell sharply in the first quarter as the global crisis battered the economy, the government said on Monday.
Industrial output slumped 7.5 percent in the first three months compared with a year ago while production in March edged up 0.4 percent compared with the same month a year ago, the DANE statistics agency said.
Retail sales fell 5.2 percent in the first quarter of 2009 compared with a year earlier while sales in March were down 7.1 percent from the same month a year ago.
Colombia's government is hoping for an economic rebound in the second half of the year to end 2009 at around zero growth even as the central bank aggressively slashes its key interest rate to try to spur expansion.
(Reporting by Patrick Markey; Editing by Dan Grebler) Keywords: COLOMBIA ECONOMY/PRODUCTION (pat.markey@reuters.com, +57-1-634-4090, Reuters messaging: pat.markey.reuters.net@reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Industrial output slumped 7.5 percent in the first three months compared with a year ago while production in March edged up 0.4 percent compared with the same month a year ago, the DANE statistics agency said.
Retail sales fell 5.2 percent in the first quarter of 2009 compared with a year earlier while sales in March were down 7.1 percent from the same month a year ago.
Colombia's government is hoping for an economic rebound in the second half of the year to end 2009 at around zero growth even as the central bank aggressively slashes its key interest rate to try to spur expansion.
(Reporting by Patrick Markey; Editing by Dan Grebler) Keywords: COLOMBIA ECONOMY/PRODUCTION (pat.markey@reuters.com, +57-1-634-4090, Reuters messaging: pat.markey.reuters.net@reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.