Ecuador: Growth in economic activity plummets in May
July 10, 2015
In May, economic activity fell 13.9% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Indice de Actividad Economica Coyuntural). May’s contraction marked a drastic deterioration over the previous month’s 8.0% expansion and was the lowest result since August 2009.
On a month-on-month basis, economic activity in May decreased 0.06% in seasonally-adjusted terms, which was above the 0.20% decrease recorded in April. Annual average growth in economic activity fell in May to 2.8% from April’s reading of 4.8%.
Author: Robert Hill, Economist