Uruguay Economic Outlook
October 11, 2016Uruguay’s economy expanded 1.4% on an annual basis in Q2, accelerating from Q1’s virtually flat reading (Q1: +0.1% year-on-year). Growth came on the back of a jump in fixed investment, which was strongly influenced by a dramatic increase in public investment in wind farms. On a sequential basis, however, the economy recorded a flat reading, suggesting that it actually experienced some weakness. High-frequency data suggest that this weakness carried over into Q3. In July, industrial production continued to drop and unemployment worsened. Exports, which recorded a double-digit drop in Q2, returned to fall in August after July’s expansion. This shows that the difficult economic situation of Argentina and Brazil, two of Uruguay’s main trading partners, is still taking a toll on the country’s economic performance.
Uruguay Economy Data
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|Exchange Rate||28.06||-0.04 %||Oct 21|
Uruguay Economic Growth
October 11, 2016Economic growth will lose steam this year, restrained by difficult regional economic conditions and growing unemployment. A tightening in fiscal conditions poses further downside risks to growth. Panelists polled for this month’s LatinFocus report expect GDP to increase 0.5% in 2016, which is unchanged from last month’s forecast. For 2017, they expect GDP growth to pick up to 1.3%.
Uruguay Economic News
October 13, 2016
In August, industrial production grew 2.0% from the same month last year, which contrasted the 5.4% drop recorded in July and marked the best result in six months.
October 6, 2016
In September, consumer prices increased 0.3% over the previous month, down from August’s 0.6% rise.
September 21, 2016
Uruguay’s economy expanded 1.4% year-on-year in Q2 2016, which represented an acceleration over Q1’s revised 0.1% growth (previously reported: -0.5% year-on-year).
September 12, 2016
In July, industrial production contracted 5.4% over the same month last year, which was sharper than the 3.4% decrease in June and represented the fourth consecutive contraction in Uruguay’s industrial output.
September 5, 2016
In August, consumer prices increased 0.6% over the previous month, up from July’s 0.4% rise.