Ecuador: Economic activity contracts considerably less in May
July 15, 2016
In May, economic activity recorded an annual contraction of 1.7%, according to the monthly indicator for economic activity (IDEAC, Índice de Actividad Económica Coyuntural), which was a much softer decline than April’s deep 14.5% decrease. April’s reading had marked the largest drop in over six years and mainly reflected the devastating impact of April’s massive earthquake on the Ecuadorian economy.
On a month-on-month basis, economic activity in May decreased 0.46% in seasonally-adjusted terms, which was up from the 0.73% fall recorded in April. The annual average variation in economic activity advanced from minus 5.8% in April to minus 4.8% in April.