Ecuador Economic Activity October 2021

Ecuador

Ecuador: Economic activity records slowest expansion since since February in October

December 20, 2021

Economic activity expanded 12.6% compared to the same month of the previous year in October, which was a deterioration from September's 13.9% increase. The outturn marked the worst reading since February. Domestic instability, amid widespread protests against planned fuel price hikes, coupled with still downbeat oil output, were likely behind the slowdown.

Meanwhile, annual average economic activity growth rose to 11.2% in October (September: +10.1%), signaling an improving trend in the sector.

LatinFocus panelists project GDP to grow 2.9% in 2022, which is up 0.1 percentage points from last month. For 2023, the panel sees GDP growth at 2.2%.


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Ecuador Economic Activity October 2021

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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