Uruguay: Industrial output growth runs out of steam in November
January 11, 2019
Industrial production decelerated on an annual basis in November, increasing 1.7% when accounting for refinery output, down markedly from a 19.5% jump recorded in October. The reading was largely driven by a robust increase in processed-food and -beverage output which more than offset significantly lower paper and paper products production.
Excluding refinery output, industrial production contracted 0.9% annually in November (October: +1.5% year-on-year).
Uruguay Industrial Production Forecast
Panelists surveyed for this month’s LatinFocus Consensus Forecast expect industrial output to increase 4.2% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees industrial output growth slowing to 4.4%.
Author: Almanas Stanapedis, Research Team Manager