Ecuador: Economic activity deteriorates in March
May 12, 2016
In March, economic activity deteriorated, contracting 8.8% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Índice de Actividad Económica Coyuntural). March’s drop contrasted the 3.2% expansion observed in February, which had marked the largest expansion in 10 months.
On a month-on-month basis, economic activity in March increased 0.09% in seasonally-adjusted terms, which was slightly down from the 0.15% increase recorded in February. The annual average variation in economic activity fell from minus 3.0% in February to minus 4.0% in March.