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.
Author: Robert Hill, Economist