Uruguay: Manufacturing production growth moderates in November
Manufacturing production grew 2.4% year on year in November (October: +9.1% yoy). Industrial output excluding refinery output expanded at a slower rate of 8.8% on an annual basis in November (October: +13.9% yoy). The notable slowdown came on the back of a deterioration in the chemical substances and products sector and slower growth in paper output, which more than offset faster growth in food output.
Meanwhile, the trend improved, with the annual average growth of manufacturing production coming in at 1.4%, up from October’s 0.6% reading.