Unemployment in Ecuador
Ecuador - UnemploymentThe economy likely contracted markedly in Q2, weighed on by the twin impact of tumbling oil prices and the pandemic. Economic activity in June shrank at yet another record pace, indicating that GDP contracted by about a fifth across the entire quarter, as measures enacted to curtail the spread of Covid-19 hampered the manufacturing and commerce sectors. Furthermore, oil production nosedived by a third in the quarter as a whole, only partially recovering in June, boding ill for exports and government revenues. More positively, an agreement was reached on 28 August with the IMF to borrow about USD 6.5 billion to bolster public health spending amid a persistently high number of daily cases. Meanwhile, S&P Global Ratings and Fitch Ratings both raised their ratings to B- with stable outlooks on 1 and 3 September, respectively, following the completion of debt restructuring plans in early August.
Ecuador - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Ecuador Unemployment Chart
Source: National Statistical Institute.
|Exchange Rate||25,000||0.0 %||Dec 31|
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September 14, 2020
Economic activity plummeted 19.8% year-on-year in July, falling at a faster pace from June’s revised 17.7% drop (previously reported -24.2% yoy). On a monthly basis, economic activity declined 2.6% in seasonally-adjusted terms in July, matching the previous month’s drop.
September 7, 2020
Consumer prices fell 0.32% in August over the last month, which was softer than the 0.61% drop recorded in July.
August 14, 2020
Economic activity collapsed 24.2% year-on-year in June, following May’s 21.2% plunge and marking the worst reading on record.
August 7, 2020
Consumer prices fell 0.61% in July over the last month, which was fractionally less than the 0.62% drop recorded in June.
July 14, 2020
Economic activity decreased 14.6% year-on-year in May, following April’s 12.7% drop and marking the worst reading on record.