Ecuador Economic Activity August 2016

Ecuador

Ecuador: Economic activity declines at softer pace in August

In August, economic activity recorded an annual contraction of 2.8%, according to the monthly indicator for economic activity (IDEAC, Índice de Actividad Económica Coyuntural). This was a notably milder decrease than July’s 15.5% plunge, which had marked an over ten-year low.

On a month-on-month basis, economic activity in August increased 0.28% in seasonally-adjusted terms, which was up from the revised 0.05% increase recorded in July (previously reported: -0.44% month-on-month) and marked the highest reading since July 2014. In August, the annual average variation in economic activity mirrored July’s 6.4% contraction, which was the lowest figure on record.

Panelists surveyed for this month’s LatinFocus report see GDP contracting 2.6% in 2016, which is up 0.2 percentage points from last month’s forecast. For 2017, panelists expect the economy to expand a mild 0.3%.


Author:, Economist

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Ecuador Economic Activity Chart


Ecuador Economic Activity August 2016

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


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