Uruguay: Industrial output expands at fastest clip in over eight years in April
June 11, 2021
Industrial production surged in April, growing 24.5% on an annual basis (March: +3.7% year-on-year). The print marked the best reading since January 2013, albeit it was largely driven by a favorable base effect. Looking at the details of the release, the manufacture of food products, pharmaceutical products as well as rubber and plastic products all expanded strongly. For its part, industrial production excluding refinery output increased 25.3%, picking up from March’s 4.3% rise.
Moreover, the trend improved, with annual average variation of industrial production coming in at minus 2.4%, up from March’s minus 5.3%.
Author: Hanna Andersson, Economist