The volume of the industrial production fell by 1.8% in June, after the average annual variation between January and June of this year fell in comparison to the same period last year.
In addition to the negative average annual variation from January 2024 to June 2024 against January 2023 to June 2023, on an interannual level the IVFIM registered a similar 1.8% decline compared to June 2023, and another negative 0.6% in the average variation of the last 12 moving months (July 2023 to June 2024 against July 2022 to June 2023).
The index number stood at 110.2, while the Index of Hours Worked by Workers (IHT) fell by 2.4% year-on-year and the Employed Personnel Index (IPO) did so by 1.9%.
He economist Aldo Lemaassured through his X account that the fall in Uruguayan industrial production was “foreseeable” during June, since it was affected “by the calendar effect of fewer working days.”
Main areas of impact on manufacturing volume
The division with the greatest negative impact on the average industrial product of the year was “Oil refinery”with a negative variation of 76.5% and a negative impact of 4.9%, followed by “Beverage Production”, with a negative impact of 0.6%.
At the other end of the spectrum, the division that had the greatest positive impact on the average was “Paper and Paper Products Manufacturing”, with a variation of 22.8% and an impact of 2.5%. In turn, the “Food Products Manufacturing” division had a variation of 4.3% and contributed 1.8% to the average.
Source: Ambito
