Current Account in Uruguay
Uruguay - Current AccountIncoming data for the first quarter of this year has been bleak thus far, after contractions in private consumption and investment activity led growth to fall to a near three-year low in the final quarter of last year. Industrial output contracted on annual basis in Q1, as both refinery and manufacturing production tumbled. This has weighed on the external sector, with merchandise exports falling in Q1 against the backdrop of a still-frail regional environment and sustained fears over a global trade war. Furthermore, on the domestic front, headwinds to consumer demand appear to have carried over into this year: The peso continued to weaken throughout Q1, which, coupled with elevated unemployment in January-February, likely weighed on household spending in the quarter.
Uruguay - Current Account Data
|Current Account (% of GDP)||-3.4||-3.1||-0.8||0.8||1.5|
5 years of economic forecasts for more than 30 economic indicators.
Uruguay Current Account Chart
Source: Central Bank of Uruguay and FocusEconomics calculations.
|Exchange Rate||35.14||0.24 %||May 13|
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May 13, 2019
Industrial production fell 5.5% over the same month of the previous year in March, following a milder 2.5% year-on-year drop in February and marking the worst reading so far this year.
May 3, 2019
Consumer prices rose 0.4% from a month earlier in April, moderating from the 0.6% month-on-month increase recorded in March.
April 11, 2019
Industrial production fell 2.5% over the same month of the previous year in February, contrasting a 1.3% year-on-year rise in January.
April 4, 2019
Consumer prices rose 0.6% from a month earlier in March, moderating from February’s 1.0% month-on-month increase.
April 2, 2019
At its 2 April monetary policy meeting, the Central Bank of Uruguay set its target for the growth rate of the M1+ money supply for the second quarter of 2019 to 8.0%–10.0%, up from the previous quarter’s 6.0%–8.0% target.