Uruguay Industry September 2018

Uruguay

Uruguay: Industrial output accelerates in September

November 12, 2018

Industrial production accelerated on an annual basis in September, growing 16.1% when accounting for refinery output (August: +15.5% year-on-year). September’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 contracted 2.1% annually amid declining processed-food and -beverage output (August: -5.4% year-on-year).

Panelists surveyed for this month’s LatinFocus Consensus Forecast expect industrial output to increase 7.7% in 2019, which is up 0.2 percentage points from last month’s forecast. For 2020, the panel sees industrial output growth slowing to 4.1%.


Author:, Economist

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Uruguay Industry September 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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