Uruguay: Manufacturing activity dips in June
Manufacturing production contracted 1.8% year on year in June (May: +1.7% yoy). Looking at the details of the release, June’s downturn was driven by a decline in paper production and a sharper fall in beverages output. More positively, food output gained momentum, and chemical substances and products returned to growth, limiting the overall drop.
Meanwhile, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 0.6% in June, down from May’s minus 0.5% reading.