Uruguay Economic Outlook
May 15, 2018The economy sent mixed signals in the first quarter, after recording the fastest expansion in three years in 2017. Unemployment jumped to an over ten-year high in February before easing slightly in March; it is expected to have weighed on household spending in the quarter. On the other hand, export growth picked up pace considerably in March, likely buttressing industrial production, which expanded at a three-year high at the end of Q1. Meanwhile, debate over the motion to approve the free trade agreement signed with Chile in 2016 was further postponed by parliament on 7 May, prolonging nearly two years of gridlock and potentially weighing on investor confidence and the country’s access to foreign markets.
Uruguay Economic GrowthIndustrial production, supported by the buoyant external sector, and an expected rebound in investment activity should buttress economic growth this year. Amid sustained domestic financial stability, greater uncertainty to the country’s growth outlook stems from external factors. The regional economic recovery is still fragile, and the outcome of several important free trade negotiations, including one with the EU, remains cloudy. Our panelists expect GDP to expand 3.1% in 2018, which is unchanged from the last month’s forecast, and again 3.1% in 2019.
Uruguay Economy Data
5 years of Uruguay economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Exchange Rate||31.41||0.24 %||May 21|
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Uruguay Economic News
May 14, 2018
Industrial production growth picked up pace in March, accelerating from the previous month’s 9.2% year-on-year increase to a 12.3% surge.
May 4, 2018
Consumer prices ticked up 0.1% month-on-month in April, below March’s 0.3% increase, and marking the lowest rise so far this year.
April 12, 2018
Industrial production jumped 9.2% year-on-year in February, contrasting January’s 1.1% contraction and marking the strongest expansion since March 2015.
April 9, 2018
At its Monetary Policy Committee meeting on 6 April, the Central Bank of Uruguay announced its intention to attempt to anchor inflation within the target range of 3.0%–7.0% for the next 24 months.
April 4, 2018
Consumer prices rose 0.3% in March, below February’s 0.9% increase.