Colombia's industrial output decelerates in April

BOGOTA: Colombia's industrial production growth slowed in April, while retail sales accelerated versus the same month a year ago, the government's DANE statistics agency said.

Latin America's No. 5 economy anticipates 5 percent economic growth this year, faster than the 4.3 percent expansion last year as the country continues to recover from the global economic crisis.

Industrial production rose 2 percent in April, slowing from growth of 7.4 percent in the same month last year, government data showed.

Growth was at its lowest since July 2010.

Automobiles and basic chemicals registered the strongest growth in April, the agency said.

In March, Colombia's industrial production grew 5.2 percent versus the same month last year.

Retail sales soared 23.2 percent in April, pushed up by footwear and leather goods, information equipment and vehicles and motorcycles, versus 7.6 percent growth in April 2010, the agency said.

In March, retail sales rose 14.6 percent.

The central bank says faster expansion is primarily stimulated by vigorous growth in domestic demand, stoked by double-digit growth in loans extended by private banks.

Copyright Reuters, 2011