LatinNews Daily - 24 March 2023

In brief: Uruguay’s GDP down in IV quarter 2022

* Uruguay’s central bank (BCU) has released new figures which show that Uruguay’s GDP in the fourth quarter of 2022 was down by 0.1% in annual terms, which the BCU attributes to lower agricultural production in the 2022/2023. In seasonally adjusted terms, economic activity contracted by 1.3% in the fourth quarter as compared to the previous quarter. The same figures show that in the whole of 2022, GDP grew by 4.9% as compared to the previous year. The BCU attributed this growth to the recovery of activities that continued to be affected by the coronavirus (Covid-19) pandemic in 2021. The BCU highlighted the positive performances of sectors including health, education, real estate & other services (+5.6%); trade, accommodation & provision of food & drink (+10.4%); and transport, storage, information & communications (+9.7%).

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