The Industrial Confidence Index in Colombia rose to 9.3 in July 2019 from 8.4 in the previous month, hitting its highest level since February 2016. Sentiment improved regarding current level of orders (-15.1 from -20.5 in June) and stock of finished products (-1.7 from -2.9). Meanwhile, manufacturers were less optimistic regarding output expectations (41.2 from 42.8). Business Confidence in Colombia averaged 1.19 Index Points from 2009 until 2019, 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 7.60 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 4.30 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.