Uruguay: Historic blow to industrial output amid containment measures in April
June 11, 2020
Industrial production nosedived 19.3% year-on-year in April (March: +4.7% yoy). The result marked the weakest reading since September 2017.
Industrial production excluding refinery output tumbled 22.2% year-on-year in April, contrasting March’s 2.1% rise. Looking at a breakdown of the sub-components, a sharp fall in the production of food products and beverage led the overall slump.
Meanwhile, the trend deteriorated significantly, with the annual average variation of industrial production coming in at minus 2.3% in April, down from March's minus 0.7%.