Uruguay Industry May 2019

Uruguay

Uruguay: Industrial production slumps in May

July 12, 2019

Industrial production fell 2.5% over the same month of the previous year in May, contrasting a mild 0.4% year-on-year increase in April which had marked a short-lived return to output growth. Meanwhile, industrial production, excluding refinery output, fell 0.6% on an annual basis in May, compared to a healthy 3.9% expansion in April.

Looking at a breakdown of the sub-components, notable contractions in the production of automotive vehicles, medical equipment and basic metals led the overall slump, more than offsetting solid increase in the production of paper and paper products as well as metal products, machinery and equipment.

Meanwhile, annual average variation in industrial production fell to a 10-monty low of 5.3% in June, from 7.4% in the previous month.

FocusEconomics panelists expect industrial production to increase 0.6% in 2019, which is down 3.3 percentage points from last month’s forecast. For 2020, the panel sees industrial output growth at 3.5%.


Author:, Economist

Sample Report

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

Download

Uruguay Industry Chart


Uruguay Industry May 2019

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