Uruguay: Manufacturing production drops at sharpest rate since May 2020 in March
Manufacturing output decreased 16.7% year on year in March (February: +0.9% yoy). The figure marked the worst reading since May 2020. March’s reading was partly driven by a deterioration in food output. In addition, paper output lost steam.
Meanwhile, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 1.2%, contrasting February’s plus 0.6% reading.