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%.
Author: Javier Colato, Economist