Uruguay Industry


Industrial production accelerates in July

In July, industrial production rose 7.3% over the same month last year, which came in above the 5.9% increase recorded in June. The increase largely reflected rising output of food and beverages, chemical products as well as paper products.

Excluding the contribution of the La Teja refinery—the country’s only oil refinery and a key contributor to overall production—industrial output expanded 7.0% in July, which came in below the 9.3% rise tallied in June. The trend continues to point upward: annual average variation in industrial output rose from 6.6% in June to 6.8% in July, which marked the highest reading in almost two years.

LatinFocus Consensus Forecast panelists expect industrial production to increase 4.3% in 2015, which is down 0.2 percentage points from last month’s forecast. For 2016, the panel sees industrial output growth at 3.2%.

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Uruguay Industry Chart

Uruguay Industry July 2015

Note: Year-on-year changes and annual average variation of industrial production in %.
Source: National Statistical Institute (INE) and FocusEconomics calculations.

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