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Uruguay Industry July 2022

Uruguay: Industrial output records largest decline in over one year and a half in July

Industrial output slid 1.0% year on year in July, which contrasted June’s 3.6% increase and marked the worst reading since January 2021. The shrinkage was chiefly driven by strong contractions in the pharmaceutical and metal industries. In addition, food production also declined. That said, automotive and chemical output soared.

Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 9.0% in July, down from June’s 10.7%.

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