Uruguay: Industrial production falls back at year outset
March 13, 2020
Industrial production contracted 3.0% in annual terms in January, contrasting December’s 3.8% rebound. Industrial output excluding refinery output dropped 1.8% year-on-year in January, swinging from December’s 2.6% increase. Looking at a breakdown of the sub-components, a sharp fall in the production of petroleum- and carbon-based products led the overall contraction.
Meanwhile, annual average variation in industrial production deteriorated from minus 1.5% in December to minus 1.7% in the first month of this year.