Ecuador Economic Activity September 2016

Ecuador

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.

Panelists surveyed for this month’s LatinFocus report see GDP contracting 2.3% in 2016, which is up 0.3 percentage points from last month’s forecast. For 2017, panelists expect the economy to expand a mild 0.1%, which is up 0.2 percentage points from last month’s estimate.


Author:, Economist

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Ecuador Economic Activity September 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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