Uruguay Industry May 2022

Uruguay

Uruguay: Industrial output posts quickest growth since November 2021 in May

July 12, 2022

Industrial output increased 12.0% compared to the same month a year earlier in May, which was markedly above April's 3.9% increase. May's print marked the best result since November 2021. Looking at the details of the release, the reading was due to an improvement in food and beverages output growth.

Meanwhile, annual average industrial production growth fell to 12.1% in May (April: +12.9%), which marked a six-month low.

Panelists participating in this month’s LatinFocus Consensus Forecast project industrial production to grow 4.5% in 2022, which is down 0.6 percentage points from last month’s estimate, and 3.8% in 2023.


Author:, Economist

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Uruguay Industry May 2022

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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