Ecuador Economic Outlook
November 6, 2018Economic activity gained momentum in the third quarter, accelerating markedly in August thanks to a notable boost in oil production, following weak growth in H1. Prospects for the petroleum sector remain upbeat with USD 1.6 billion worth of private investment contracts signed on 5 October for the development of six oil fields. Moreover, the government has indicated plans to continue offering areas for oil and gas exploration through an auction later this year and next. Consultations have already ensued with neighboring Peru to jointly explore two oil fields at the border of the two countries. In addition, household consumption propelled by still-strong private credit growth in Q3 continued to power growth amid muted inflationary pressures.
Ecuador Economic GrowthCuts to public spending as the government attempts to strengthen its fiscal account are expected to drag on growth next year. Weaker private consumption dynamics, owing to a moderation in private credit growth and an expected rise in price pressures, will also likely weigh on the growth outlook. Tighter global financial conditions, meanwhile, pose downside risks, due to the dollarized economy’s heavy reliance on external financing. Met the why particular panelists project GDP growth slowing to 1.1% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.4% in 2020.
Ecuador Economy Data
5 years of Ecuador economic forecasts for more than 30 economic indicators.
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|Exchange Rate||25,000||0.0 %||Nov 13|
|Stock Market||1,395||0.17 %||Nov 13|
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Ecuador Economic News
November 8, 2018
Consumer prices fell 0.05% over the previous month in October, contrasting a 0.39% month-on-month rise in September.
October 16, 2018
According to the monthly economic activity indicator (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador, economic activity accelerated in August, growing 5.3% over the same month of the previous year, after expanding 4.0% year-on-year in July.
October 5, 2018
Consumer prices rose 0.39% over the previous month in September, following a 0.27% month-on-month increase in August.
October 1, 2018
Ecuador’s economy lost steam again in the second quarter, with annual GDP growth falling to 0.9%, down from 1.6% in the first quarter as the government’s austerity drive restrained the pace of expansion through weaker domestic demand.
September 14, 2018
According to the monthly economic activity indicator (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador, economic activity grew 4.0% over the same month of the previous year in July, after a 3.0% year-on-year expansion in June (previously reported: +3.8% year-on-year).