Falling household consumption by 1.3% contributed to Ecuador's economic decline in 2024

The contraction of 2% of GDP that the Ecuadorian economy experienced in 2024 was a consequence, among other factors, of a decrease in the level of consumption of families, which resulted in less sales for business. That year the final consumption expenditure of households fell by 1.3%, according to the Central Bank of Ecuador (BCE).

In "Communists" the collapse of basic household purchases was exposed. Cleaning, personal hygiene and food items are among the most affected. Read more