Ecuador Economic Activity May 2020

Ecuador

Ecuador: Economic activity drops at record pace in May

July 14, 2020

Economic activity decreased 14.6% year-on-year in May, following April’s 12.7% drop and marking the worst reading on record.

On a monthly basis, economic activity decreased 2.2% in seasonally-adjusted terms in May, which matched April’s fall. Moreover, the trend pointed down, with the annual average variation of economic activity coming in at minus 5.7%, down from April's minus 4.5%.

LatinFocus panelists project GDP contracting 8.1% in 2020, which is down 1.1 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

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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