Uruguay: Manufacturing production falls at sharpest rate since August 2020 in December
Manufacturing production nosedived 7.8% year on year in December (November: +2.4% yoy). The outturn marked the worst reading since August 2020. Looking at the details of the release, food output shrank in December, while paper output rose at a stronger pace. Meanwhile, chemical substances and products production also accelerated.
Meanwhile, annual average manufacturing production growth fell to 0.6% in December (November: +1.4%). This signals a worsening trend in the manufacturing sector.