Uruguay: Industrial output accelerates to nine-month high in July
September 11, 2014
In July, industrial production expanded 5.7% over the same month last year, which was up from the 2.4% increase recorded in June. July’s expansion represented the largest increase since October 2013.
Excluding the contribution of the La Teja refinery—the country’s only oil refinery and a key contributor to overall production—industrial output expanded 7.1% annually in July, which was significantly larger than the 1.9% contraction recorded in June. As a result of the positive reading, the trend improved and the annual average growth rate reached minus 0.2%, which was up from the minus 0.6% seen in June.