Ecuador: Economic activity contracts in July
September 15, 2015
In July, economic activity fell 2.8% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Indice de Actividad Economica Coyuntural). July’s contraction marked a deterioration over June’s 1.9% drop. As a result, the indicator remains in contractionary territory.
On a month-on-month basis, economic activity in July increased 0.68% in seasonally-adjusted terms, which followed the 0.19% increase recorded in June. Annual average growth in economic activity fell in July to 1.5% from June’s reading of 2.1%.
Author: Robert Hill, Economist