Uruguay: Industrial production rebounds in February ahead of coronavirus blow
Industrial production increased 1.0% in annual terms in February, contrasting January’s 3.0% contraction. Industrial output excluding refinery output dropped 1.3% year-on-year in February, a somewhat softer fall than January’s 1.8% decrease. Looking at a breakdown of the sub-components, a sharp increase in the production of petroleum- and carbon-based products led the overall expansion.
Meanwhile, annual average variation in industrial production improved from minus 1.8% in January to minus 1.5% in the second month of this year.