Uruguay: Decline in industrial activity softens in September
November 11, 2020
Industrial output decreased 1.9% in year-on-year terms in September, which was markedly softer than August's 9.9% decrease. Moreover, industrial output excluding refinery output fell 0.3% on an annual basis in September (August: -9.9% yoy).
Looking at the breakdown of the subcomponents, the manufacture of chemical products picked up pace in September. Meanwhile, output in the food and beverages and coal and petroleum products sub-sectors declined at a softer pace compared to the previous month.
Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.2%, down from August's minus 4.7% reading.
Author: Hanna Andersson, Economist