Ecuador Economic Activity April 2020

Ecuador

Ecuador: Economic activity drops again in April

June 13, 2020

Economic activity dropped 2.8% year-on-year in April (March: -3.3% year-on-year) according to the monthly economic activity indicator (IDEAC) released by the Central Bank of Ecuador.

On a monthly basis, economic activity rose 0.2% in April (March: -0.3% month-on-month). The print marked the best result since May 2018. Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 2.1%, down from March's minus 1.9% reading.

LatinFocus panelists project GDP contracting 5.8% in 2020, which is down 0.6 percentage points from last month. For 2021, the panel sees GDP expanding 2.5%.


Author:, Economist

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Ecuador Economic Activity Chart


Ecuador Economic Activity April 20 20

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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