Ecuador: Contraction in economic activity moderates in June
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). 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%.
Author: Robert Hill, Economist