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%.
Author: Hanna Andersson, Economist