Uruguay: Manufacturing activity growth eases in April
Latest reading: Manufacturing output grew 7.2% in year-on-year terms in April, which followed March’s 16.2% increase. April’s reading was largely affected by a base effect stemming from the temporary closure of the ANCAP refinery in April 2024. Additionally, the national tourism holiday fell in April this year, compared to March last year, negatively impacting both production and hours worked. Looking at the other subcomponents, both chemical and food output lost steam.
Meanwhile, the trend improved, with the annual average growth of manufacturing production coming in at 5.4%, up from March’s 5.3% reading.