Uruguay: Industrial output growth slows in May
July 12, 2021
Industrial output grew 22.9% in year-on-year terms in May, which followed April's 24.5% increase. Looking at the details of the release, the manufacture of pharmaceutical products; rubber and plastic products; and, chemical substances and products expanded at a slower rate compared to the previous month. Meanwhile, industrial output excluding refinery output shot up 23.8% on an annual basis in May (April: +25.3% yoy).
Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at plus 1.2%, contrasting April's minus 2.4%.
Author: Hanna Andersson, Economist