Ecuador: Economic activity accelerates in July

According to the monthly economic activity indicator (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador, economic activity grew 4.0% over the same month of the previous year in July, after a 3.0% year-on-year expansion in June (previously reported: +3.8% year-on-year). July’s print marked the best reading since November 2014.

In month-on-month, seasonally-adjusted terms, economic activity rose 0.6% in July. The print matched June’s revised expansion (previously reported: +0.8% month-on-month).

Panelists surveyed for this month’s LatinFocus report expect GDP to expand 1.5% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, panelists project the economy will grow 1.2%, which is unchanged from last month.