Uruguay Industry November 2018


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:, Research Team Manager

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Uruguay Industry Chart

Uruguay Industry November 2018

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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