BOGOTA, May 19 (Reuters) - Colombia's industrial production and retail sales rose sharply in March compared with the same month last year in a sign that the country is recovering from the global economic crisis, the government said on Wednesday.
The central bank said in a report on Wednesday growth likely ranged between 2.3 percent and 3.1 percent in the first quarter and is seen at 3.0 percent to 3.5 percent for the full year. For details, see
Industrial output rose 6.4 percent in March from the same month last year while retail sales increased 9.3 percent in the same period, it said.
The DANE statistics agency said that industrial production for the January-March period shot up 3.8 percent compared with the same period last year. March industrial production rose due to a boost in sales of beverages and basic chemicals.
Retail sales for the first quarter increased 7.3 percent versus the same period in 2009 mainly due to information equipment, vehicles and household goods, the body said.
Economic activity is picking up after dropping on the back of the global economic crisis, which hit exports and domestic demand in the coffee-exporting Andean nation.
President Alvaro Uribe said that Colombia would see 'astonishing' growth in 2010 and annual gross domestic product expansion of 5 percent to 6 percent in the coming years.
((Reporting by Nelson Bocanegra; Writing by Luis Andres Henao; Writing by Jack Kimball, Editing by Gary Crosse)) Keywords: COLOMBIA INDUSTRY/ (jack.kimball@thomsonreuters.com; +571-634-4140; Reuters Messaging: jack.kimball.reuters.com@thomsonreuters.net) COPYRIGHT Copyright Thomson Reuters 2010. 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.
The central bank said in a report on Wednesday growth likely ranged between 2.3 percent and 3.1 percent in the first quarter and is seen at 3.0 percent to 3.5 percent for the full year. For details, see
Industrial output rose 6.4 percent in March from the same month last year while retail sales increased 9.3 percent in the same period, it said.
The DANE statistics agency said that industrial production for the January-March period shot up 3.8 percent compared with the same period last year. March industrial production rose due to a boost in sales of beverages and basic chemicals.
Retail sales for the first quarter increased 7.3 percent versus the same period in 2009 mainly due to information equipment, vehicles and household goods, the body said.
Economic activity is picking up after dropping on the back of the global economic crisis, which hit exports and domestic demand in the coffee-exporting Andean nation.
President Alvaro Uribe said that Colombia would see 'astonishing' growth in 2010 and annual gross domestic product expansion of 5 percent to 6 percent in the coming years.
((Reporting by Nelson Bocanegra; Writing by Luis Andres Henao; Writing by Jack Kimball, Editing by Gary Crosse)) Keywords: COLOMBIA INDUSTRY/ (jack.kimball@thomsonreuters.com; +571-634-4140; Reuters Messaging: jack.kimball.reuters.com@thomsonreuters.net) COPYRIGHT Copyright Thomson Reuters 2010. 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.