Unemployment in Uruguay
Uruguay - UnemploymentAvailable data for the second half of the year has been downbeat and suggests that economic turmoil in neighboring Argentina has taken its toll on growth. On the heels of an otherwise solid first-half outturn, deteriorating external demand—from Argentina and Brazil, in particular—is expected to have hammered exports in the third quarter, compounding low agricultural output due to the drought-stricken harvest. In turn, household spending is likely to have landed on its back foot; unemployment spiked in the quarter and elevated inflation continued to weigh on consumers. Moreover, industrial metrics fared poorly through the quarter and hint that the second quarter’s rebound in fixed investment might have been a one-off. In October, Fitch Ratings revised the outlook on its investment-grade credit rating to negative, putting the government on notice over its rising public-sector debt. Analysts were quick to point out that next year’s budget will provide little remedy.
Uruguay - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Uruguay Unemployment Chart
Source: National Statistical Institute (INE).
|Exchange Rate||32.80||0.24 %||Jan 14|
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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.
January 4, 2019
Consumer prices fell 0.4% from a month earlier in December, swinging from November’s 0.4% month-on-month rise.
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.
December 13, 2018
A comprehensive breakdown by the Central Bank of Uruguay showed that the economy decelerated to 2.1% year-on-year in the third quarter, down from the second quarter’s revised 2.6% outturn (previously reported: +2.5% year-on-year).
December 12, 2018
Industrial production accelerated on an annual basis in October, growing 19.5% when accounting for refinery output (September: +16.1% year-on-year).