Uruguay: Industrial activity rebounds in March
Industrial production rebounded on an annual basis in March, growing 3.7% (February: -0.2% year-on-year) and marking the best reading in a year. Looking at the details of the release, the upturn largely came on the back of an increase in the manufacture of motor vehicles, trailers and semi-trailers. For its part, industrial production excluding refinery output expanded 4.3%, picking up from February’s 0.6% increase.
Meanwhile, the trend deteriorated slightly, with annual average variation of industrial production coming in at minus 5.3% in March, down from February’s minus 5.2%.