Ecuador Economic Activity


Economic activity contracts in July

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). July’s contraction marked a deterioration over June’s 1.9% drop. As a result, the indicator remains in contractionary territory.

On a month-on-month basis, economic activity in July increased 0.68% in seasonally-adjusted terms, which followed the 0.19% increase recorded in June. Annual average growth in economic activity fell in July to 1.5% from June’s reading of 2.1%.

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 July 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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