Uruguay: Industrial production continues to plunge in June as La Teja remains closed for maintenance
August 31, 2017
In June, industrial production plummeted 11.7% from the same month of the previous year, a slight improvement on the sharp 16.0% contraction recorded in May. June’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 expanded 6.3% annually, which represented the third consecutive month of growth and followed May’s 2.2% increase. The trend accordingly worsened, with annual average industrial output decreasing 4.6% in June, down from the 3.9% decline observed in May.