Uruguay Industry July 2019

Uruguay

Uruguay: Industrial production flat in July

September 18, 2019

Industrial production remained unchanged over the same month of the previous year in July, improving from a 9.9% year-on-year plunge in June, which had marked the sharpest contraction since October 2017.

Industrial production excluding refinery output rebounded 0.2% on an annual basis in July, contrasting the sharp 8.1% fall in June. Looking at a breakdown of the sub-components, marked increases in the production of substances and chemicals products, and paper and paper products offset falling production of food and beverages.

Meanwhile, annual average variation in industrial production fell from 3.0% in June to 1.5% in July, a 13-month low.

FocusEconomics panelists expect industrial production to increase 1.7% in 2019, which is up 1.1 percentage points from last month’s forecast. For 2020, the panel sees industrial output growth at 3.4%.


Author: Massimo Bassetti, Economist

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Uruguay Industry July 2019

Note: Year-on-year changes and annual average variation of industrial production in %.
Source: National Statistical Institute (INE) and FocusEconomics calculations.


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