Ecuador Economic Activity August 2021

Ecuador

Ecuador: Economic activity growth moderates in August

October 13, 2021

Economic activity expanded a solid 17.2% in annual terms in August, but cooled from August’s 19.3% jump. August’s print marked the sixth consecutive month of double-digit growth, largely owing to a favorable base effect. August’s softer increase was likely owed to a stronger decline in oil production.

Meanwhile, the trend improved notably, with the annual average variation of economic activity coming in at 8.3% in August from 5.7% in July.

LatinFocus panelists project GDP to grow 3.4% in 2021, which is up 0.1 percentage points from last month. For 2022, the panel sees GDP growth at 3.1%. which is unchanged from last month’s estimate.


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Ecuador Economic Activity August 2021 0

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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