Uruguay: Manufacturing production decelerates in May
Latest reading: Manufacturing production increased 3.1% year on year in May (April: +7.2% yoy), marking the worst reading since August 2024. The deceleration was driven by a deterioration in food production. However, the refined oil output skyrocketed as ANCAP—the state-owned oil company—resumed operations after months of maintenance, limiting the fall. In addition, paper production decelerated.
Meanwhile, annual average manufacturing production growth rose to 5.5% in May (April: +5.4%), signaling an improving trend in the manufacturing sector.