Ecuador Economic Outlook
July 14, 2015The Ecuadorian economy expanded 3.0% in Q1 2015 over the same period of last year. The expansion represented a slowdown compared to the 3.5% increase seen in Q4 2014. The moderation was due to a substantial slowdown in domestic demand, however the external contribution improved in Q1 with exports accelerating in spite of the appreciation of the U.S. dollar and subdued oil prices. Meanwhile, anti-government sentiment in Ecuador is rising. Unpopular cost saving and revenue boosting reforms, proposed by the Correa government, have been met with resistance from opposition leaders and citizens who have responded with a series of ongoing protests. On 15 June, in response to such protests, Correa temporarily withdrew bills pertaining to inheritance and real estate taxes from the country’s parliament.
Ecuador Economic Data
5 years of Ecuador economic forecasts for more than 30 economic indicators.
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Ecuador Economic Growth
July 14, 2015Economic headwinds persist for Ecuador in the form of subdued energy prices and a strengthened U.S. dollar. Instability resulting from social unrest will also present a downside risk. LatinFocus Consensus Forecast panelists expect the economy to grow just 1.3% in 2015, which is up 0.1 percentage pointsfrom last month’s forecast. In 2016, panelists expect GDP to expand 2.2%.
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Ecuador Economic News
July 10, 2015
In May, economic activity fell 13.9% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Indice de Actividad Economica Coyuntural).
July 6, 2015
In June, consumer prices rose 0.41% over the previous month, which followed the 0.18% increase tallied in May.
July 2, 2015
In Q1 2015, GDP grew 3.0% over the same quarter of the previous year, which came in below the 3.5% increase registered in Q4 and represented the slowest pace of growth since Q2 2010. Q1’s slowdown mainly reflected a deterioration in domestic demand.
June 11, 2015
In April, economic activity increased 8.0% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Indice de Actividad Economica Coyuntural).
June 8, 2015
In May, consumer prices rose 0.18% over the previous month, which followed the 0.84% increase tallied in April and marked the smallest increase in five months.