Uruguay Economic Outlook
January 15, 2019
A comprehensive GDP release confirmed that economic turmoil in Argentina took a bite out of growth in the third quarter of 2018. Against the backdrop of plummeting exports due to faltering Argentine demand and the poor soybean harvest, the third-quarter expansion was the weakest so far last year. Meanwhile, domestic demand metrics were more robust. An improvement in household consumption was somewhat offset by a dip in fixed investment as investors grew more risk averse amid sustained economic uncertainty in the region. Available data for the fourth quarter paints a mixed picture. Inflationary pressures moderated in Q4 and, coupled with a more stable peso and lower unemployment, likely propped up private consumption growth. However, on the external front, exports continued to contract in October and November, with tourism revenue likely down markedly in Q4 due to a strong appreciation of the Uruguayan peso against its Argentine counterpart in real terms.Uruguay Economic Growth
Growth should remain broadly stable this year amid ongoing global trade uncertainties and as adverse economic conditions across the border weigh on the external sector. Sustained private consumption and robust fixed investment growth should spearhead overall growth in 2019. The expected rebound in agricultural output from last year’s drought will also lend further support to growth. FocusEconomics analysts see growth at 1.8% in 2019, down 0.1 percentage points from last month’s forecast, and 2.5% in 2020.Uruguay Economy Data
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Uruguay Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 32.55 | 0.24 % | Jan 30 |
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Uruguay Economic News
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.
Uruguay: Growth runs out of steam in Q4 2018
March 28, 2019
According to detailed national accounts data released by the Central Bank of Uruguay (BCU) on 28 March, growth lost traction in the final quarter of last year, confirming analysts’ expectations.
Uruguay: Industrial output rebounds in January
March 14, 2019
Industrial production rose 1.3% year-on-year in January, swinging from a sharp 8.8% slump recorded in December.
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