Uruguay: Industrial output drops in August
October 13, 2014
In August, industrial production contracted 0.8% over the same month last year, which contrasted the 5.7% expansion tallied in July.
Excluding the contribution of the La Teja refinery—the country’s only oil refinery and a key contributor to overall production—industrial output in August expanded 0.4% year-on-year, which was significantly slower than the 7.1% expansion recorded in July. As a result of the contraction recorded in August, the annual average growth fell from July’s minus 0.2% to minus 0.4% in August.
Author: Cecilia Simkievich, Economist