Ecuador Economic Activity October 2020

Ecuador

Ecuador: Economic activity grows at sharpest rate in two years in October

December 16, 2020

Economic activity grew 5.8% in year-on-year terms in October, rebounding from September 5.0% contraction. October’s reading marked the best result in two years.

On a month-on-month basis, economic activity grew 0.1% in October, matching September’s reading. Moreover, the trend improved notably, with the annual average variation of economic activity coming in at minus 9.7%, up from September’s minus 10.9%.

LatinFocus panelists project GDP to grow 3.8% in 2021, which is up 0.1 percentage points from last month. For 2022, the panel sees GDP growth at 2.5%.


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Ecuador Economic Activity October 20 20

Note: Year-on-year changes and annual average variation of economic activity index in %.
Source: Ecuador Central Bank and FocusEconomics calculations.


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