Ecuador Economic Activity July 2020

Ecuador

Ecuador: Economic activity falls again in July

September 14, 2020

Economic activity plummeted 19.8% year-on-year in July, falling at a faster pace from June’s revised 17.7% drop (previously reported -24.2% yoy).

On a monthly basis, economic activity declined 2.6% in seasonally-adjusted terms in July, matching the previous month’s drop. Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 9.1%, down from June’s minus 7.5%.

LatinFocus panelists project GDP contracting 8.7% in 2020, which is down 0.1 percentage points from last month. For 2021, the panel sees GDP expanding 3.1%.


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Ecuador Economic Activity July 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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