Uruguay: Industrial output drops again in August
October 13, 2020
Industrial production plunged 9.9% year-on-year in August, a sharper decline than July’s 5.3% fall.
Industrial production excluding refinery output fell 7.9% on an annual basis in August, following July’s 5.3% contraction. Looking at the breakdown of the subcomponents, a steep fall in the production of leather and related products was largely behind the downturn.
Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.7%, down from July's minus 3.5% reading.
Author: Hanna Andersson, Economist