Ecuador Economic Activity April 2016


Economic activity shrinks at fastest pace in over six years

In April, economic activity deteriorated and recorded the deepest contraction in over six years. Economic activity fell 14.7% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Índice de Actividad Económica Coyuntural). April’s drop followed March’s 8.5% decrease.

On a month-on-month basis, economic activity in April decreased 0.26% in seasonally-adjusted terms, which was up from the 0.57% fall recorded in March. The annual average variation in economic activity fell from minus 3.8% in March to minus 5.7% in April.

Panelists surveyed for this month’s LatinFocus report see GDP contracting 2.9% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, panelists expect the economy to expand a mild 0.2%.

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Ecuador Economic Activity Chart

Ecuador Economic Activity April 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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