Ecuador: Economic activity speeds up in March
Latest reading: Economic activity rose 4.5% on a year-on-year basis in March, following 0.2% growth in the prior month.
Relative to the previous month’s data, the reading for mining and quarrying improved in March (+7.2% on a year-on-year basis vs +6.6% in February). In contrast, readings softened for agriculture (-3.3% vs -1.0% in February) and manufacturing (+1.3% vs +4.1% in February). Finally, the variation in services was the same as in the prior month (+2.4% in March and February).
On a seasonally adjusted month-on-month basis, economic activity was up 8.0% in March, following a 2.2% decline in the prior month.