Uruguay: Industrial activity contracts in January
March 15, 2021
Industrial production fell 0.3% year-on-year in January (December: +1.4% yoy). Industrial output excluding refinery output declined 0.9% on an annual basis in January (December: +1.4% yoy). The figure largely reflected a drop in food and beverages production. In addition, chemical products output contracted.
Meanwhile, the trend improved modestly, with the annual average variation of industrial production coming in at minus 4.8% in January, up from December's minus 5.0%.
Author: Hanna Andersson, Economist