Sales fell both in Montevideo and in the interior, according to a report from the Chamber of Commerce and Services of Uruguay.
The Comercial activity contracted 2.8% during the third quarter throughout the country, a decrease driven by the scenario of lower growth that has been deepening throughout the country, according to the Chamber of Commerce and Services of Uruguay (Ccsuy), which also revealed the drop in business expectations.
According to the survey carried out by the Ccsuy, the fall in trading companies Montevideo It was 2.6%, while in the interior it reached 1.6%. On the other hand, the declines in service firms reached 6.3% in the capital and 1.7% in the rest of the country, which increases concern in the sector.
At the level of sales By items, 13 out of 20 showed declines again, in a similar way to what was observed in previous quarters. Supermarkets and Hotels went from positive to negative variations, falling 3.9% and 1.1%, respectively, while those that went from negative to positive terrain were Construction materials, hardware stores, paint stores (1%), Toys stores (0. 8%) and Security Services (3.5%).
In turn, the report indicated that with the exception of medium-sized companies, all company sizes had a drop in profits. sales. Large firms fell 3.9%, while micro and small firms fell 4.1 and 3%, respectively.
Profitability expectations were reduced among businessmen
With this scenario, the expectations of cost effectiveness For this year they were reduced again, going from 56 to 53 points, reflecting the recessive effects of shocks such as the drought and the diversion of consumption to Argentina.
At the same time, the profitability expectations for next year of the companies surveyed by the Ccsuy They fell significantly, varying from 73 to 66 points, one of the lowest records of the indicator in its history, with which a marked deterioration is expected for 2024.
Source: Ambito
