In the second quarter, GDP grew 3.8% over the same quarter last year. The reading marked a slowdown compared to the 4.2% growth rate registered in the first quarter. Total consumption expanded 5.9%, down from the 6.4% increase recorded in Q1, amid slower growth in both private consumption (Q2: 6.1% year-on-year; Q1: 6.5% yoy), and government consumption (Q2: 3.5% year-on-year; Q1: 6.2% yoy). On the other hand, fixed investment picked up from a 6.4% rise in Q1 to a 16.4% expansion in Q2. Meanwhile, the external sector deteriorated over the previous quarter, as exports decelerated from a 4.1% increase in the first quarter to a 0.1% expansion in the second, while imports accelerated to 13.2% (Q1: +9.8% yoy). A quarter-on-quarter comparison corroborates the moderation suggested by annual data, as the economy grew 0.8% over the previous quarter in seasonally adjusted terms, well below the 2.2% increase recorded in the first quarter
GDP decelerates in Q2
September 20, 2012
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Uruguay GDP Chart
Note: Year-on-year changes of GDP in %.
Source: National Statistical Institute (INE) and FocusEconomics Consensus Forecast.
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.