Uruguay Industry February 2017

Uruguay

Uruguay: Industrial production plummets in February

April 21, 2017

In February, industrial production in Uruguay plummeted 11.7% from the same month of the previous year, contrasting the 1.8% expansion recorded in January and marking the worst result since January 2012. February’s figure reflected contractions in several sub-sectors, with the sharpest fall recorded 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 dropped 2.0% annually, which contrasted January’s 2.9% growth. The trend consequently worsened, with annual average variation in industrial output decreasing 0.9% in February, contrasting the 0.4% growth observed in January.

Panelists surveyed for this month’s LatinFocus report expect industrial production to increase 1.2% in 2017, which is down 0.6 percentage points from last month’s forecast. For 2018, the panel sees industrial output growth picking up to 3.5%.


Author: Massimo Bassetti, Economist

Sample Report

Looking for forecasts related to Industry in Uruguay? Download a sample report now.

Download

Uruguay Industry Chart


Uruguay Industry February 2017

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


Uruguay Economic News

More news

Search form