Ecuador: Economic activity growth drops to over one-year low in July
Economic activity growth softened further in annual terms in July, increasing 1.2% year on year (June: +4.3% yoy). July’s figure marked the weakest reading since February 2021 and likely suffered from the prolonged effects of June’s protests. That said, production in the key oil sector accelerated in July from June’s six-month low.
Consequently, annual average economic activity growth fell to 11.5% in July (June: +13.1%), pointing to a worsening trend.