Uruguay Industry

Uruguay

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.

LatinFocus Consensus Forecast panelists expect industrial production to increase 1.8% this year, which is down 1.8 percentage points from last month’s forecast. For 2015, the panel sees industrial output growth at 4.6%.


Author:, Economist

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Uruguay Industry Chart


Uruguay Industry August 2014

Note: Year-on-year changes and annual average variation of industrial production in %.
Source: National Statistical Institute (INE) and FocusEconomics calculations.


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