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LatinNews Daily - 18 June 2020
In brief: Uruguay sees Q1 GDP contraction prior to Covid-19 impact
* Uruguay’s central bank’s (BCU) economics statistics unit (AEE) has released its national accounts report for the first quarter of 2020, which reveal GDP contracted by 1.4% compared with the same period in 2019 – this despite coronavirus (Covid-19) mitigation measures only coming into force on 13 March. Q1 GDP suffered a 1.6% contraction compared with the previous quarter, following on from a 0.7% contraction in Q4 2019 compared with Q3 2019. The figures for Q1 2020 show year-on-year drops across the majority of sectors except for transport, storage and communications. The most significant of these declines was in electricity, gas and water supply which slumped 20.4% compared with Q1 2019.
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- In brief: Uruguay sees Q1 GDP contraction prior to Covid-19 impact