Ecuador Economic Activity August 2020


Ecuador: Economic activity contracts at sharper pace in August

October 13, 2020

Economic activity fell 12.8% in year-on-year terms in August, a softer decline than July’s 12.6% drop.

On a monthly basis, economic activity slipped 1.9% in seasonally-adjusted terms in August, matching the previous month’s decline. Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 10.3%, down from July’s minus 9.2%.

LatinFocus panelists project GDP contracting 8.9% in 2020, which is down 0.2 percentage points from last month. For 2021, the panel sees GDP expanding 3.1%.


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Ecuador Economic Activity Chart

Ecuador Economic Activity August 20 20

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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