Ecuador Economic Activity February 2021

Ecuador

Ecuador: Decline in economic activity moderates in February

April 18, 2021

Economic activity dropped at a softer pace of 2.1% in annual terms in February, following January’s 5.0% fall. However, the result marked the 13th consecutive month of contracting economic activity.

On a month-on-month basis, economic activity rose 1.4% in February, edging up from January’s 1.3% increase. Meanwhile, the trend deteriorated, with the annual average variation of economic activity coming in at minus 10.2%, down from January’s minus 10.1%.

LatinFocus panelists project GDP to grow 3.5% in 2021, which is unchanged from last month. For 2022, the panel sees GDP growth at 2.3%.


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Ecuador Economic Activity February 2021

Note: Year-on-year changes and annual average variation of economic activity index in %.
Source: Ecuador Central Bank and FocusEconomics calculations.


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