The Industrial Confidence Index in Colombia decreased further to 1.3 in October 2018 from 3.8 in the previous month. It is the weakest reading since May, as expectations regarding production for the next three months deteriorated (21.0 from 33.3 in September) and inventories went down (1.6 from 6.0). In spite of this, the current level of orders increased (-15.5 from -15.8). Business Confidence in Colombia averaged 0.95 Index Points from 2009 until 2018, reaching an all time high of 12.70 Index Points in February of 2011 and a record low of -15.96 Index Points in June of 2009.
Business Confidence in Colombia is expected to be -1.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Colombia to stand at 4.50 in 12 months time. In the long-term, the Colombia Business Confidence is projected to trend around 5.40 Index Points in 2020, according to our econometric models.