Ecuador: Economic activity shrinks at fastest pace in over six years
June 14, 2016
In April, economic activity deteriorated and recorded the deepest contraction in over six years. Economic activity fell 14.7% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Índice de Actividad Económica Coyuntural). April’s drop followed March’s 8.5% decrease.
On a month-on-month basis, economic activity in April decreased 0.26% in seasonally-adjusted terms, which was up from the 0.57% fall recorded in March. The annual average variation in economic activity fell from minus 3.8% in March to minus 5.7% in April.