Uruguay: Industrial output rebounds in August

Industrial output increased 9.3% year on year in August (July: -1.0% yoy). August's rise was largely due to a surge in output in the food and automotive industries. In contrast, pharmaceutical and paper production fell.

Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 8.7%, down from July's 9.0%.

Panelists participating in this month’s LatinFocus Consensus Forecast project industrial production to grow 2.9% in 2023, which is down 0.2 percentage points from last month’s estimate, and 2.6% in 2024.