Uruguay Economic Outlook
December 7, 2017The economy appears to be in good health despite an ongoing slump in industrial production: Exports rose sharply in September in annual and year-to-date terms, outpacing import growth by a comfortable margin. Moreover, the average salary index rose again in September, which bodes well for private consumption through the holiday season and year end. On 7 November, a preliminary agreement valued at USD 2.3 billion between UPM, the second-biggest pulp manufacturer in the world, and the government was signed. The agreement is the largest private investment deal in the country’s history and is expected to have a positive impact on industrial production moving forward. According to government officials, a second UPM pulp mill would add two percentage points to GDP and create numerous jobs. Officials also expect the deal to have a positive impact on public accounts and provide an opportunity to upgrade physical infrastructure.
Uruguay Economic GrowthPrivate consumption is expected to be buttressed by the ongoing wage gains and will support economic growth next year. Growth in fixed investment, which is likely to benefit from ongoing attempts to develop a hydrocarbon sector, should drive GDP growth. Potential regional political uncertainty could, however, drag on growth prospects. Panelists expect GDP to expand 3.1% in 2018, unchanged from last month’s forecast, and 3.0% in 2019.
Uruguay Economy Data
5 years of Uruguay economic forecasts for more than 30 economic indicators.
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|Exchange Rate||28.98||0.24 %||Dec 06|
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Uruguay Economic News
December 13, 2017
In October, industrial production contracted 13.8% from the same month last year.
December 5, 2017
In November, consumer prices rose 0.3% from the previous month, below October’s 0.5% month-on-month rise.
November 13, 2017
In September, industrial production dropped 19.5% from the same month of the previous year.
November 3, 2017
In October, consumer prices grew 0.5% from the previous month, matching September’s month-on-month rise.
October 12, 2017
In August, industrial production plunged 13.0% from the same month of the previous year.