Uruguay Industry August 2019

Uruguay

Uruguay: Industrial output rebounds in August

October 14, 2019

Industrial production rose 4.1% in annual terms in August, following July’s flat reading and marking the strongest increase since October 2018.

Industrial output excluding refinery output increased 5.3% year-on-year in August, accelerating sharply from a 0.2% uptick in July. Looking at a breakdown of the sub-components, marked increases in the production of food and drinks, paper and paper products, and non-electric machinery drove the upturn.

Meanwhile, annual average variation in industrial production fell from 1.5% in July to 0.7% in August, a 14-month low.

FocusEconomics panelists expect industrial production to fall 1.7% in 2019, which is down 2.4 percentage points from last month’s forecast. For 2020, the panel sees industrial output growth at 1.3%.


Author:, Economist

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Uruguay Industry August 2019

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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