Uruguay Industry April 2020

Uruguay

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%.

FocusEconomics panelists are still taking the latest developments into account.


Author: Massimo Bassetti, Senior Economist

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Uruguay Industry April 20 20

Note: Year-on-year changes and annual average variation of industrial production in %.
Source: National Statistical Institute (INE) and FocusEconomics calculations.


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