Uruguay Industry July 2018

Uruguay

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.

Panelists surveyed for this month’s LatinFocus Consensus Forecast expect industrial output to increase 7.2% in 2018, which is up 0.3 percentage points from last month’s forecast. For 2019, the panel sees industrial output growth slowing to 4.1%, unchanged from last month’s forecast.


Author:, Economist

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