Ecuador: Economic activity growth moderates in May but remains solid
July 15, 2021
Economic activity grew 29.0% in annual terms in May, but eased from April’s 56.1% jump, largely due to a less favorable base effect. Nonetheless, the expansion was solid and was largely buoyed by a healthy increase in oil output—the country’s key export.
Meanwhile, the trend improved notably, with the annual average variation of economic activity coming in at 2.9%, up from April’s minus 1.8%.