Uruguay Private consumption

Economic growth slows in the fourth quarter of 2025

GDP expands at slowest rate since early 2023: Uruguay's GDP increased 0.1% in annual terms in Q4, following a downwardly revised 1.0% expansion in the previous quarter. Q4's reading was the weakest since Q2 2023. On a seasonally adjusted quarter-on-quarter basis, economic output expanded 0.1% in Q4, following a 0.4% contraction in the prior quarter. In 2025 overall, GDP grew by 1.8%, surpassing the prior 10 years’ average.

Drivers: Relative to the previous quarter's data, the readings for private consumption (+1.9% in annual terms vs +2.3% in Q3) and exports of goods and services (-1.9% vs +5.2% in Q3) worsened in Q4. In contrast, readings picked up for government consumption (+2.2% vs +1.2% in Q3), fixed investment (-0.9% vs -1.4% in Q3) and imports of goods and services (+5.1% vs +4.6% in Q3).

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Uruguayan private consumption projections for the next ten years from a panel of 10 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable private consumption forecast available for Uruguayan private consumption.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Uruguayan private consumption projections.

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