Uruguay: Positive growth surprise in Q2-14

The Q2-14 national accounts report published by the Central Bank of Uruguay was promising. The economy grew 2% q/q seasonally adjusted (3.7% y/ y) due to the sustained growth of domestic consumption and greater contribution of exports. Further growth in Q1-14 was revised from -0.4% q/q to 0% t/ t. We put upward revision in the growth forecast for Uruguay with a floor at 3.2% this year.

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