Growth Slows Amid Loss of Confidence

ECUADOR - Report 22 Jul 2015 by Magdalena Barreiro

Executive SummaryEcuadorians are already seeing the painful effects of falling oil prices. Though Q1 economic growth was 3% y/y, but it was down 0.5% from Q4 2014, deepening the downtrend that started in 2013. Household consumption fell 0.57% q/q, government consumption by 1.7%, and gross capital formation by 1.74%. Only exports increased, by 1.92% -- more than in the previous three quarters -- while imports fell 1.94%.A similar trend is taking place at the industry level, where construction (the most important contributor to GDP over the past three years) fell by 2.69%, commerce by 0.65%, ...

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