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  • IMF Accolade - WA#27
    IMF Accolade - WA#27

    July indicators overview

  • The price of Ecuadoran crude rose $3.2/b in May to $63.5/b. The price markdown from WTI was $6.3/b. Based on the assumed prices for PetroEcuador and the price differential it is to expect that Ecuadoran crudes averaged about $61.6/b in June and would average about $65/b in July. (WA#27)

  • There is a GDP reduction compared to the fourth quarter of 2017, a measure known as T-1: -.7%, or an annualized rate of -2.7% the worst T-1 measurement since the first quarter of 2016. The sectors that pulled GDP downwards the most in this quarter were: other GDP elements, where taxes predominate, government services, oil & mines and professional services. Those with the greatest positive impact were construction, commerce and water & power. (WA#26)

Welcome to Grupo Spurrier

Grupo Spurrier is the leading company in the development of key solutions and services for business success; it specializes in monitoring the economy and politics of Ecuador, as well as on economic research, market research, consulting and corporate training, models and business plans development, investment plans, and market power law consulting.

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Weekly Analysis Briefs

  • 27.- IMF ACCOLADE

    There was a lengthy-high profile visit of an IMF Mission, newsworthy inasmuch as it highlights the normalization of relations between Fund and Ecuador. The Mission granted an accolade to the authorities, and country risk fell. The Mission, however, highlighted the challenges that the authorities face. In the last month, against the forecast of m...

  • 26.- SLOWDOWN

    In the Correa decade, growth depended on government spending, and since 2015, government spending has depended on external financing. Now external financing have become scarce, and the authorities are committed to reduce financing needs chiefly through spending cuts. While necessary, this will slow down the economy. We think that in the last qu...

  • 25.- EXPANDING

    In April and May, there was a decrease of the total liquidity of the economy and national financial system deposits, that include the private, public and popular and solidarity systems. This trend can change when the government gets external resources again. At the coop level, both deposits and credit continue to expand healthily. In the first m...