After a stronger than expected performance in the second quarter, the Uruguayan economy decelerated in the third quarter expanding 3.3% over the same period of last year (down from 5.6% in the previous quarter).
Driven by internal demand, the Uruguayan economy closed last year with a real growth of 4.4%, consolidating 11 consecutive years of steady growth.
On May 29th, Moody's Investors Service raised the credit rating of the Uruguayan sovereign debt to ?Baa2?and assigned a stable outlook.
