Ecuador accumulates its fifth consecutive GDP fall

The government presented data on economic growth in the third quarter of the year and claims to have “good news.” The interannual data, however, shows a decrease of 1.6%.

This is the fifth consecutive negative indicator. Since the third quarter of last year, the performance of the annual Gross Domestic Product (GDP) (which compares a quarter with the same period of last year) has unfavorable figures.

In his first speech as manager of the Central Bank, Madeleine Abarca, former finance minister, said that there are signs of recovery despite the -1.6%. In the second quarter, for example, the figure was -2.2%. That is, the decrease would be slowing down gradually.

The official also highlighted the GDP growth when compared to a previous quarter. According to this measurement, the national economy had a slight increase of 0.5%. A “good news,” she stressed yesterday at a press conference, in Quito.