Uruguay: Industrial output growth drops to 10-month low in January
Industrial output expanded 0.6% in year-on-year terms in January, which was a deterioration from December’s 1.1% increase. January’s slowdown was partly due to a deterioration in food output. In contrast, paper output rebounded.
Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 3.0% in January, down from December’s 3.6% reading.
Panelists participating in this month’s LatinFocus Consensus Forecast project industrial production to grow 1.3% in 2023, which is up 0.8 percentage points from last month’s estimate, and 2.7% in 2024.