Uruguay Industry February 2021

Uruguay

Uruguay: Industrial activity declines at softer pace in February

April 12, 2021

Industrial production fell 0.2% year-on-year in February (January: -3.8% yoy). The figure largely reflected a marked drop in petroleum production as well as in food and beverages output. Meanwhile, industrial output excluding refinery output expanded 0.6% on an annual basis in February (January: -4.1% yoy).

Meanwhile, the trend improved modestly, with annual average variation of industrial production coming in at minus 5.1% in February, up from January's minus 5.2%.

FocusEconomics panelists project industrial production to grow 4.1% in 2021, which is down 0.5 percentage points from last month’s forecast. For 2022, the panel sees industrial output growth at 3.0%.


Author:, Economist

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Uruguay Industry Chart


Uruguay Industry February 2021

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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