Uruguay: Industrial production accelerates in July
September 13, 2012
In July, industrial production expanded 7.2% over the same month last year, which is almost twice the 3.8% increase recorded in June. In particular, the monthly figure was driven by increases in the manufacture of petroleum and carbon products as well as in the food and beverage industry. Excluding the La Teja refinery's contribution - the country's only oil refinery and a key contributor to overall production - industrial output expanded 4.5%, which was up from the 3.2% rise recorded in the previous month. As result of the stronger growth in July, the trend is now improving, with the annual average variation in industrial production rising from minus 1.9% in June to minus 1.7% in July.
Author: Armando Ciccarelli, Head of Data Solutions