The latest economic expansion lasted 63 months
In Ecuador, since 1993, five entire cycles of growth with an average duration of 40 months have been detected. However, the last cycle of growth “would have begun in March 2010 until June 2015, which would have had a duration 63 months.”
This was revealed by a study of the Central Bank of Ecuador (BCEfor its Spanish acronym), which analyzes the economic cycles of the gross domestic product (GDP).
The two consecutive declines in GDP in the first and second quarter of last year, that some international organizations categorized as a technical recession in the economy, would have been two brakes for the national GDP.
That also ties with the slowdown in export revenues by the sharp drop in oil prices, which took place last year and which has taken a few hundred million dollars from the economy (which no longer receives due to a cheaper oil).