Uruguay Economic Outlook
September 10, 2019
The economic situation remained dire in the second quarter following the first-quarter downturn, haunted by frail external conditions and faltering domestic demand. Unemployment jumped to an over one-decade high in Q2, signaling a sustained downturn in household consumption, while a weaker peso boded ill for investment. Meanwhile, the country is gearing up for a presidential election due on 27 October, with early polls suggesting a tightly contested race between the Broad Front Party’s Daniel Martínez and the National Party’s Luis Lacalle Pou. Against this backdrop, on 6 August, Moody’s affirmed Uruguay’s Baa2 credit rating with a stable outlook, citing low political risk thanks to the country’s mature and consensus-building political system. That said, Moody’s noted that gradually eroding fiscal strength and a structural decline in growth potential could dampen the outlook in the near future.Uruguay Economic Growth
Growth is seen more than halving this year as the external sector feels the pinch of the marked downturn in Argentina, while domestic demand faces rising headwinds stemming from high unemployment, stagnant wages and a depreciating peso. Downside risks stem from uncertainty over October’s general election, while a swift ratification of the EU-Mercosur trade deal is an upside risk. FocusEconomics analysts see growth at 0.6% in 2019, which is down 0.2 percentage points from last month’s forecast, and 1.6% in 2020.Uruguay Economy Data
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Uruguay Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 36.72 | 0.24 % | Sep 04 |
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Uruguay Economic News
Uruguay: Inflation falls to 16-month low, touches target range
September 4, 2019
Consumer prices rose 0.9% from a month earlier in August, accelerating marginally from July’s 0.8% increase.
Uruguay: Inflation ticks up in July
August 5, 2019
Consumer prices rose 0.8% from a month earlier in July, accelerating mildly from June’s 0.6% increase.
Uruguay: Industrial production slumps in May
July 12, 2019
Industrial production fell 2.5% over the same month of the previous year in May, contrasting a mild 0.4% year-on-year increase in April which had marked a short-lived return to output growth.
Uruguay: Central Bank maintains M1+ target in July
July 12, 2019
At its 12 July monetary policy meeting, the Central Bank of Uruguay maintained its target for the growth rate of the M1+ money supply in Q3 2019 at 8.0%–10.0%, unchanged from previous quarter’s target.
Uruguay: Inflation falls to a five-month low in June
July 4, 2019
Consumer prices rose 0.6% from a month earlier in June, up slightly from May’s 0.4% increase.
© Copyright: 2019 | Uruguay Economy | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed ...
