Uruguay: Industrial production continues to expand at a strong pace
January 11, 2013
In November, industrial production expanded a strong 18.5% over the same month the previous year, which was, nonetheless, down from the 18.9% increase recorded in October.
The monthly rise was driven, in particular, by a pick-up in the production of wood and wood products. Excluding the La Teja refinery's contribution - the country's only oil refinery and a key contributor to overall production - industrial output expanded 2.0%, which was up from the 1.0% rise recorded in the previous month.
As a result of November's positive reading, the trend improved, with the annual average variation in industrial production rising from 1.9% in October to 4.2% in November.
Author: Armando Ciccarelli, Head of Data Solutions