Ecuador Economic Activity

Ecuador

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%.

FocusEconomics Consensus Forecast participants see GDP growing 1.3% in 2015, which is up 0.1 percentage points from last month’s forecast. For 2016, panelists expect the economy to expand 2.2%.


Author:, Economist

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Ecuador Economic Activity Chart


Ecuador Economic Activity May 2015

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


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