Uruguay Industry October 2018


Uruguay: Industrial output accelerates in October

December 12, 2018

Industrial production accelerated on an annual basis in October, growing 19.5% when accounting for refinery output (September: +16.1% year-on-year). October’s reading was driven by production at the state-owned oil company’s La Teja refinery, which was closed through much of last year.

Excluding refinery output, industrial production expanded 1.5% annually amid faster processed-food and -beverage output (September: -2.1% year-on-year).

Panelists surveyed for this month’s LatinFocus Consensus Forecast expect industrial output to increase 4.2% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees industrial output growth slowing to 4.4%.


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Uruguay Industry Chart

Uruguay Industry October 2018

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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