Uruguay GDP


GDP decelerates in Q2

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

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Uruguay GDP Chart

Uruguay GDP Q2 2012

Note: Year-on-year changes of GDP in %.
Source: National Statistical Institute (INE) and FocusEconomics Consensus Forecast.

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