Ecuador Economic Activity January 2016

Ecuador

Ecuador: Contraction in Economic activity slows in January

March 11, 2016

In January, economic activity recorded a contraction of 3.6% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Indice de Actividad Economica Coyuntural). January’s decrease was less severe than the 8.2% fall observed in December. The deterioration in the index is slowing as the contraction in Ecuador’s economy, stemming from the collapse in exported crude prices is bottoming out.

On a month-on-month basis, economic activity in January increased 0.51% in seasonally-adjusted terms, which is an improvement over the 0.16% increase recorded in December and marks the highest increase since May 2014. Annual average growth in economic activity was steady in January at December’s 3.3% contraction.

Panelists surveyed for this month’s LatinFocus report see GDP growing 1.4% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, panelists expect the economy to expand 1.2%.


Author:, Economist

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Ecuador Economic Activity Chart


Ecuador Economic Activity January 2016

Note: Year-on-year changes and annual average variation of economic activity in %.
Source: Ecuador Central Bank and FocusEconomics calculations.


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