Mountains in Ecuador

Ecuador Economic Activity July 2021

Ecuador: Economic activity growth picks up pace in July

Economic activity expanded a robust 19.2% in annual terms in July, coming above June’s 16.0% increase. That said, July’s print, which marked the fifth successive month of double-digit growth, was largely flattered by a low base effect. The upturn was largely attributed to improvements in the non-oil sector, as suggested by a quicker drop in oil output.

Meanwhile, the trend improved markedly, with the annual average variation of economic activity coming in at 8.1% in July from 5.5% in June.

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