Ecuador Economic Activity September 2020

Ecuador

Ecuador: Economic activity declines at weakest pace in seven months in September

November 16, 2020

Economic activity tumbled 5.0% in year-on-year terms in September, much softer than the 12.8% plunge logged in August. September’s reading marked the weakest contraction since February.

On a month-on-month basis, economic activity dipped 0.7% in seasonally-adjusted terms in September, after falling 0.9% in August. Meanwhile, the trend continued to deteriorate, with the annual average variation of economic activity coming in at minus 10.9%, down from August’s minus 10.3%.

LatinFocus panelists project GDP to grow 3.7% in 2021, which is up 0.6 percentage points from last month. For 2022, the panel sees GDP growth at 2.4%.


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Ecuador Economic Activity September 20 20 0

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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