Uruguay Industry

Uruguay

Uruguay: Industrial production slows down in November

January 12, 2015

In November 2014, industrial production rose 3.8% over the same month of 2013, which was down from the 6.2% increase tallied in October.

Excluding the contribution of the La Teja refinery—the country’s only oil refinery and a key contributor to overall production—industrial output expanded even more slowly than the total, posting 3.6% growth in November, which was below the 7.7% rise tallied in October. Despite the notable slowdown in November, the annual average variation in industrial output inched up from October’s 0.2% to 0.3% in November.

LatinFocus Consensus Forecast panelists expect industrial production to increase 1.8% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees industrial output growth picking up the pace to 4.2%.


Author:, Economist

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Uruguay Industry November 2014 0

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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