Ecuador Economic Activity June 2020

Ecuador

Ecuador: Economic activity collapses at record rate in June

August 14, 2020

Economic activity collapsed 24.2% year-on-year in June, following May’s 21.2% plunge and marking the worst reading on record.

On a monthly basis, economic activity decreased 3.9% in seasonally-adjusted terms in June, which was softer than May’s 4.4% fall. Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 9.2%, down from May's minus 7.2%.

LatinFocus panelists project GDP contracting 8.6% in 2020, which is down 0.5 percentage points from last month. For 2021, the panel sees GDP expanding 3.0%.


Author:, Economist

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Ecuador Economic Activity May 20 20 0

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


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