Ecuador Economic Activity


Contraction in economic activity moderates in June

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). June’s contraction marked a significant improvement over May’s 13.9% deterioration, however the indicator remains in contractionary territory.

On a month-on-month basis, economic activity in June increased 0.25% in seasonally-adjusted terms, which contrasted the 0.22% decrease recorded in May. Annual average growth in economic activity fell in June to 2.1% from May’s reading of 2.8%.

FocusEconomics Consensus Forecast participants see GDP growing 1.5% in 2015, which is up 0.2 percentage points from last month’s forecast. For 2016, panelists expect the economy to expand 2.2%.

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Ecuador Economic Activity Chart

Ecuador Economic Activity June 2015

Note: Year-on-year changes and annual average variation of economic activity in %.
Source: Ecuador Central Bank and FocusEconomics calculations.

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