Uruguay: Manufacturing activity surges in March
Latest reading: Manufacturing output increased 16.2% compared to the same month of the previous year in March, improving from February’s 4.8% increase. The spike was primarily driven by a jump in oil refining, due to a low base of comparison amid maintenance-related closures at ANCAP’s refinery during the same period last year. Moreover, the national tourism holiday occurred in April this year, compared to March in 2024, contributing to the year-on-year variation.
Meanwhile, annual average manufacturing production growth rose to 5.3% in March (February: +2.6%). This signals an improving trend in the manufacturing sector.