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.