Uruguay: Decline in industrial output softens in June
August 11, 2020
Industrial output dropped 0.8% year-on-year in June, a softer fall than May’s 19.6% contraction.
Industrial production excluding refinery output decreased 3.4% year-on-year in June, following May’s pronounced 21.9% fall. Looking at the breakdown of the subcomponents, a marked fall in the production of leather and related products led the overall slump.
Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 3.0% in June, up from May's minus 3.8% reading.
Author: Hanna Andersson, Economist