Ecuador: Economic activity hits record high on low base effect in April
Economic activity grew a robust 54.7% in annual terms in April, rising notably from March’s 11.0% expansion. Skyrocketing oil output in the same month—following a year of contractions—likely contributed to the jump. That said, the print, which marked a record-high, was flattered by a supportive base effect.
Accordingly, the trend improved notably, with the annual average variation of economic activity coming in at minus 2.4%, up from March’s minus 9.8%.