Uruguay: Industrial production falls in October
December 13, 2016
In October, industrial production in Uruguay dropped 3.0% from the same month last year, which contrasted the revised 6.0% expansion recorded in September (previously reported: +5.8% year-on-year) and marked the worst result in three months. October’s fall reflected declines in the output of paper products, automotive vehicles and medical instruments. Conversely, the production of oil and oil-based products rose.
Excluding the contribution of the La Teja refinery—the country’s only oil refinery and a key contributor to overall production—industrial output dropped 5.9% annually, which was a sharp deterioration compared to September’s 0.4% growth. The trend consequently pointed downward, with annual average variation in industrial output decreasing from minus 0.4% in September to minus 0.6% in October.