Ecuador Economic Outlook
September 15, 2015Ecuador’s economy continued to suffer the consequences of the sharp drop in oil prices as evidenced by contractions in the monthly indicator of economic activity in June and July. Moreover, the popularity of President Rafael Correa is quickly dissipating due to the unpopular measures that his administration is planning to undertake. On 13 August, the country held a general strike to protest the government’s plans to hike taxes and amend the constitution to allow the president to run for office indefinitely. Against this backdrop, last month, Standard & Poor’s cut Ecuador’s credit rating from B+ to B, citing growing political unrest and the negative effect of falling oil prices on the economy as the main reason behind its downgrade.
Ecuador Economic Data
5 years of Ecuador economic forecasts for more than 30 economic indicators.
See all the data and analysis available in each of our Regional and Country reports.
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Ecuador Economic Growth
September 15, 2015Although Ecuador faces significant challenges, it has demonstrated a strong willingness to encourage investor confidence, and continues to work closely with Chinese partners in order to develop large scale infrastructure projects, including a massive hydroelectric project that is due to be completed in 2020. LatinFocus Consensus Forecast panelists expect the economy to grow 1.0% in 2015, which is down 0.5 percentage points from last month’s forecast. In 2016, panelists expect GDP to expand 1.7%.
Ecuador Economic News
October 6, 2015
In September, consumer prices increased 0.26% over the previous month, which was up from flat reading seen in August.
October 1, 2015
In Q2 2015, GDP grew 1.0% over the same quarter of the previous year, which came in below the revised 3.3% increase registered in Q1 (previously reported: +3.0% year-on-year) and represented the slowest pace of growth since Q1 2010.
September 15, 2015
In July, economic activity fell 2.8% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Indice de Actividad Economica Coyuntural).
September 4, 2015
In August, consumer prices were unchanged over the previous month, which was up from the 0.08% drop seen in July.
August 11, 2015
In June, economic activity fell 1.9% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Indice de Actividad Economica Coyuntural).