Uruguay: Industrial output growth runs out of steam in November
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).