Uruguay Industry December 2019


Uruguay: Industrial production rebounds in December

February 12, 2020

Industrial production expanded 3.8% in annual terms in December, contrasting November’s 1.8% drop. Industrial output excluding refinery output grew 2.6% year-on-year in December, swinging from November’s 4.7% slump. Looking at a breakdown of the sub-components, marked increases in the production of food and drinks and rubber and plastic products led the overall expansion.

Meanwhile, annual average variation in industrial production improved from minus 2.5% in November to minus 1.5% in December.

FocusEconomics panelists expect industrial production to fall 1.6% in 2020, which is up 0.3 percentage points from last month’s forecast. For 2021, the panel sees industrial output growth at 2.8%.

Author: Massimo Bassetti, Economist

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Uruguay Industry Chart

Uruguay Industry December 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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