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.