Ecuador: Decline in economic activity accelerates in September
November 10, 2016
In September, economic activity recorded an annual contraction of 5.3%, according to the monthly indicator for economic activity (IDEAC, Índice de Actividad Económica Coyuntural). The reading was below August’s 2.9% drop, but still notably above July’s 16.4% plunge, which had marked an over ten-year low.
On a month-on-month basis, economic activity in September increased 0.38% in seasonally-adjusted terms, which was up from the revised 0.26% increase recorded in August (previously reported: +0.28% month-on-month). In September, the annual average variation in economic activity decreased to a 7.5% decline from August’s 7.2% contraction, which marked a fresh record-low.
Author: David Ampudia, Economist