Uruguay Economic Outlook
May 14, 2019
Incoming data for the first quarter of this year has been bleak thus far, after contractions in private consumption and investment activity led growth to fall to a near three-year low in the final quarter of last year. Industrial output contracted on annual basis in Q1, as both refinery and manufacturing production tumbled. This has weighed on the external sector, with merchandise exports falling in Q1 against the backdrop of a still-frail regional environment and sustained fears over a global trade war. Furthermore, on the domestic front, headwinds to consumer demand appear to have carried over into this year: The peso continued to weaken throughout Q1, which, coupled with elevated unemployment in January-February, likely weighed on household spending in the quarter.Uruguay Economic Growth
Growth is seen losing further traction this year, against the backdrop of a weak external environment in the region and rising fears of slowing global growth. Furthermore, a weaker peso, still-high unemployment and elevated inflationary pressures are likely to weigh on household spending growth. FocusEconomics analysts see growth at 1.2% in 2019, which is down 0.3 percentage points from last month’s forecast, and 2.1% in 2020.Uruguay Economy Data
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Uruguay Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 35.14 | 0.24 % | May 13 |
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Uruguay Economic News
Uruguay: Industrial production slumps again in March
May 13, 2019
Industrial production fell 5.5% over the same month of the previous year in March, following a milder 2.5% year-on-year drop in February and marking the worst reading so far this year.
Uruguay: Inflation rises again in April
May 3, 2019
Consumer prices rose 0.4% from a month earlier in April, moderating from the 0.6% month-on-month increase recorded in March.
Uruguay: Industrial production contracts in February
April 11, 2019
Industrial production fell 2.5% over the same month of the previous year in February, contrasting a 1.3% year-on-year rise in January.
Uruguay: Inflation rises March
April 4, 2019
Consumer prices rose 0.6% from a month earlier in March, moderating from February’s 1.0% month-on-month increase.
Uruguay: Central Bank increases M1+ target in April
April 2, 2019
At its 2 April monetary policy meeting, the Central Bank of Uruguay set its target for the growth rate of the M1+ money supply for the second quarter of 2019 to 8.0%–10.0%, up from the previous quarter’s 6.0%–8.0% target.
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