Uruguay Industry December 2018

Uruguay

Uruguay: Industrial output swings to contraction in December

February 11, 2019

Industrial production contracted 8.8% on an annual basis in December, compared to a modest 1.7% increase recorded in November. The result marked the first contraction in industrial output in nearly a year and the worst reading since October 2017. The reading largely reflected a marked drop in the production of processed food and beverages, chemical products and basic metals.

Excluding refinery output, industrial production contracted 9.6% annually in December (November: +1.7% year-on-year). In month-on-month terms, industrial output fell 6.3%, following a 3.3% drop in the previous month.

Uruguay Industrial Production Forecast


Panelists surveyed for this month’s LatinFocus Consensus Forecast expect industrial output to increase 4.2% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees industrial output growth slowing to 4.4%.


Author:, Economist

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Uruguay Industry Chart


Uruguay Industry December 2018

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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