Ecuador: Economic activity drops at sharpest rate since August 2016 in March
May 12, 2020
Write intro here Economic activity dropped 2.6% year-on-year in March (February: -2.4% yoy) and marked the worst reading since August 2016.
On a seasonally-adjusted monthly basis, economic activity fell at a more pronounced rate of 0.5% in March (February: -0.3% mom). The print marked the worst result since December 2015. Meanwhile, the trend pointed down, with the annual average variation of coming in at minus 1.6%, down from February's minus 1.3% reading.
Author: Hanna Andersson, Economist