Uruguay: Industrial output bounces back in December
February 11, 2021
Industrial output increased 1.4% year-on-year in December (November: -10.7% yoy). Industrial output excluding refinery output expanded 1.6% on an annual basis in December (November: -1.4% yoy). Looking at the details of the release, December's rebound was broad-based. Coal and petroleum products and chemical products output swung back to expansion, while food and beverages production contracted at a softer rate.
Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.0%, down from November's minus 4.9% reading.
Author: Hanna Andersson, Economist