Uruguay: Manufacturing production growth ebbs in May
Manufacturing production growth cooled to 1.7% year on year in May (April: +6.1% yoy). Looking at the details of the release, the slowdown was largely driven by a notable contraction in chemical substances and products. Moreover, food output slowed in May, while beverage production fell at a slower pace.
Meanwhile, annual average variation of manufacturing output was -0.5% in May, mirroring April’s figure.