Uruguay: Industrial production slows in June
August 10, 2012
In June, industrial production expanded 3.8% over the same month last year, which was less than half the 8.5% increase recorded in May. In particular, the monthly figure was driven by increases in the production of metal products and machinery as well as in plastic products. Excluding the La Teja refinery's contribution - the country's only oil refinery and a key contributor to overall production - industrial output expanded 3.2%, which was down from the 8.6% rise recorded in the previous month. Despite the slower June reading, the trend improved, with the annual average variation in industrial production inching up from May's minus 2.0% to minus 1.9%.
Author: Armando Ciccarelli, Head of Data Solutions