In January, industrial production contracted 4.3% over the same month last year, which contrasted the 1.7% increase recorded in December. The result marked the sharpest contraction since January 2012. The contraction was mainly driven by the drop registered in production of foods and beverages, paper production, and in basic metallurgic industries. Excluding the contribution of the La Teja refinery-the country's only oil refinery and a key contributor to overall production-industrial output contracted 6.0% annually in January, which sharply contrasted 1.8% expansion tallied in December. Meanwhile, annual average growth in industrial production dropped from 4.1% in December to 1.9% in January. LatinFocus Consensus Forecast panelists expect industrial production to increase 5.6% this year, which is up 0.9 percentage points from last month's forecast. For 2015, the panel sees industrial output growth at 5.5%.
Industrial production growth falls to two-year low in January
March 14, 2014
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Uruguay Industry Chart
Note: Year-on-year changes and annual average variation of industrial production in %.
Source: National Statistical Institute (INE).
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.