Industrial production in Uruguay tumbled 19.6 percent year-on-year in May of 2020, following a 19.3 percent slump in the previous month. It was the steepest decline in industrial activity since February of 2003, amid the Covid-19 pandemic. Output fell primarily for tanning & leather finishing (-76.2 percent) and motor vehicles (-76.1 percent). Excluding oil refinery, industrial output dropped 21.9 percent.
Industrial Production in Uruguay averaged 4.42 percent from 2003 until 2020, reaching an all time high of 57.25 percent in October of 2003 and a record low of -31.14 percent in January of 2003. This page provides - Uruguay Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Uruguay Manufacturing Production - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Instituto Nacional de Estadística, Uruguay
Industrial Production in Uruguay is expected to be 7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Uruguay to stand at 2.10 in 12 months time. In the long-term, the Uruguay Manufacturing Production is projected to trend around 5.00 percent in 2021, according to our econometric models.