Uruguay: Industrial production grows at slower pace in August
September 4, 2012
In August, industrial production expanded 5.6% over the same month last year, which marks a slowdown compared to the 7.2% increase recorded in July. The monthly rise was driven by increases in the food and beverages production as well as in the manufacture of petroleum and carbon products. Excluding the La Teja refinery's contribution - the country's only oil refinery and a key contributor to overall production - industrial output expanded 2.9%, which was down from the 4.5% rise recorded in the previous month. As result of the slower growth in August, the trend deteriorated, with the annual average variation in industrial production falling from minus 1.7% in July to minus 2.2% in August.