Uruguay: Industrial activity declines at softer pace in February
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%.