Uruguay: Industrial production continues to plunge in July as La Teja remains closed for maintenance
September 12, 2017
In July, industrial production plunged 18.3% from the same month of the previous year, a marked deterioration on the already sharp 11.7% contraction recorded in June. July’s figure was again heavily influenced by the ongoing closure of the La Teja refinery for maintenance and therefore reflected a virtual halt in the oil and carbon products sub-sector.
Excluding the contribution of the La Teja refinery—the country’s only oil refinery and a key contributor to overall production—industrial output decreased 2.0% annually, which represented a downturn from June’s 6.3% increase. The trend accordingly worsened, with annual average industrial output decreasing 5.8% in July, down from the 4.6% decline observed in June.