Friday March 24 2017
Uruguay GDP Annual Growth Rate at 3.40 percent
Uruguay's economy grew 3.4 percent in the fourth quarter of 2016, accelerating from a downwardly revised 1.1 percent expansion in the third quarter of 2016. It is the highest growth since first quarter of 2015, mainly driven by transportation, storage and communication (8.3 percent from 6.8 percent in Q3), trade, repairs, restaurants and hotels (4.2 percent from -1.5 percent in Q3), manufacturing (2.3 percent from 1.7 percent in Q3) and agriculture (4.5 percent from 1.8 percent in Q3). In addition, construction shrank less (-1.4 percent from -6.4 percent). In contrast, utilities contracted further (-11.9 percent from -1.3 percent in Q3). Considering 2016, the economy expanded 1.5 percent compared to 0.4 percent growth in 2015.