Uruguay: Industrial output drops again in July
September 11, 2020
Industrial output nosedived 5.3% year-on-year in July, a sharper fall compared to June’s 0.8% contraction.
Industrial production excluding refinery output also fell 5.3% on an annual basis in July, following June’s 3.4% decline. Looking at the breakdown of the subcomponents, a notable fall in the production of leather and related products drove the overall downturn.
Meanwhile, the trend pointed down, with annual average variation of industrial production coming in at minus 3.5% in July (June: -3.0%).
Author: Hanna Andersson, Economist