Ecuador: Economic activity accelerates in May

According to the monthly economic activity indicator (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador, economic activity increased 3.8% over the same month of the previous year in May, marking a faster expansion than the revised 2.6% year-on-year rise in April (previously reported: +1.7% year-on-year).

In month-on-month, seasonally-adjusted terms, economic activity rose 1.2% in May following a revised 1.1% expansion in April (previously reported: +0.9% month-on-month).

Panelists surveyed for this month’s LatinFocus report expect GDP to expand 1.6% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, panelists project the economy will grow 1.3%.