Uruguay: Industrial output growth eases in December, but remains upbeat
Industrial output expanded 11.3% compared to the same month a year earlier in December, which followed November’s 21.1% increase. The slowdown was largely the result of a decline in refinery of coke and petroleum production and chemical manufacturing output. That being said, food and beverage activity grew robustly, while pharmaceutical manufacturing growth accelerated in December.
Meanwhile, annual average industrial production growth rose to 12.3% in December (November: +11.3%), signaling an improving trend in the industrial sector.