Ecuador Economic Activity March 2016

Ecuador

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.

Panelists surveyed for this month’s LatinFocus report see GDP contracting 2.7% in 2016, which is down 0.6 percentage points from last month’s forecast. For 2017, panelists expect the economy to expand a mild 0.3%.


Author: Teresa Kersting, Economist

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Ecuador Economic Activity Chart


Ecuador Economic Activity March 2016

Note: Year-on-year changes and annual average variation of economic activity in %.
Source: Ecuador Central Bank and FocusEconomics calculations.


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