Industry in Uruguay
Uruguay - Industry
Industrial output swings to contraction in December
Industrial production contracted 8.8% on an annual basis in December, compared to a modest 1.7% increase recorded in November. The result marked the first contraction in industrial output in nearly a year and the worst reading since October 2017. The reading largely reflected a marked drop in the production of processed food and beverages, chemical products and basic metals.
Excluding refinery output, industrial production contracted 9.6% annually in December (November: +1.7% year-on-year). In month-on-month terms, industrial output fell 6.3%, following a 3.3% drop in the previous month.
Uruguay Industrial Production Forecast
Panelists surveyed for this month’s LatinFocus Consensus Forecast expect industrial output to increase 4.2% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees industrial output growth slowing to 4.4%.
Uruguay - Industry Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 4.1 | 1.1 | 3.1 | 0.3 | -11.1 |
Uruguay Industry Chart
Source: Central Bank of Uruguay and FocusEconomics calculations.
Uruguay Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 32.61 | 0.24 % | Feb 14 |
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Economic News
Uruguay: Industrial output swings to contraction in December
February 11, 2019
Industrial production contracted 8.8% on an annual basis in December, compared to a modest 1.7% increase recorded in November.
Uruguay: Inflation falls in January
February 5, 2019
Consumer prices rose 2.2% from a month earlier in January, compared to December’s 0.4% month-on-month drop and marking the highest reading in 12 months.
Uruguay: Industrial output growth runs out of steam in November
January 11, 2019
Industrial production decelerated on an annual basis in November, increasing 1.7% when accounting for refinery output, down markedly from a 19.5% jump recorded in October.
Uruguay: Inflation broadly stable in December
January 4, 2019
Consumer prices fell 0.4% from a month earlier in December, swinging from November’s 0.4% month-on-month rise.
Uruguay: Central Bank lowers M1+ target again in December
December 27, 2018
At its 27 December monetary policy meeting, the Central Bank of Uruguay set its target for the growth rate of the M1+ money supply for the first quarter of 2019 to 6.0%–8.0%, down from the previous quarter’s 7.0%–9.0% target.
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