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Economy & Business - June 2005

URUGUAY: Disappointment in first quarter

GDP growth in the first quarter was sluggish. Economic commentators said that the figures showed that the recovery was running out of puff and that the government would be hard pressed to meet its target of 6% growth this year. In particular there was a 1% year-on-year fall in industrial output in March. The disappointment of the first quarter data was followed by figures which showed a very strong surge in industrial output, year-on-year, in April, up 16%.

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