Uruguay: Industrial production continues to grow in DecemberStaff Writer | February 15, 2017
In December, industrial production grew 5.6% from the same month of the previous year, which followed the 2.6% expansion recorded in November.
LatAm Expansions in the output of food and beverages
Excluding the contribution of the La Teja refinery—the country’s only oil refinery and a key contributor to overall production—industrial output increased 6.1% annually, which was slightly down from November’s 6.3% growth.
The trend points upward, with annual average variation in industrial output swinging from minus 0.3% in November to plus 0.3% in December, the highest result in seven months.
Panelists surveyed for this month’s LatinFocus report expect industrial production to increase 1.2% in 2017, which is down 0.6 percentage points from last month’s forecast.
For 2018, the panel sees industrial output growth picking up to 3.5%. ■