Uruguay: Industrial production accelerates in September
November 11, 2016
In September, industrial production grew 5.8% from the same month last year, which represented an acceleration from the 2.0% expansion recorded in August and marked the best result since July 2015. The data represented the second increase after four consecutive months of contraction in Uruguay’s industrial output. September’s growth reflected increases in the output of oil and carbon products, wood and wood products, and chemical products. Conversely, the production of automotive vehicles dropped.
Excluding the contribution of the La Teja refinery—the country’s only oil refinery and a key contributor to overall production—industrial output expanded 0.1% annually, which was a sharp deceleration from August’s 6.2% growth. The trend pointed upward, with annual average variation in industrial output increasing from minus 1.5% in August to minus 0.6% in September.