Uruguay: Industrial output accelerates in July
September 11, 2018
Factoring in Uruguay’s major-player La Teja oil refinery, industrial output jumped 20.5% annually in July, up from June’s already-upbeat 17.1% expansion. Driving the surge was oil- and coal-derivative output. Meanwhile, annual average growth improved to 3.2% from 0.1% in June.
Industrial output excluding the contribution of La Teja, on the other hand, contracted 0.9% annually in July, an improvement on June’s 3.7% decline.
Author: Christopher Thomas, Economist