Ecuador: Economic activity accelerates in December
February 15, 2011
In December, the monthly indicator for economic activity (IDEAC, indice de Actividad Economica Coyuntural) rose 19.2% over the same month last year, which represented an acceleration over the strong 14.9% increase recorded in November. Economic activity expanded at a seasonally adjusted rate of 1.04% over the previous month, which was virtually unchanged from the 1.02% increase recorded in November. As a result, the trend continues to point upwards, with annual average growth jumping from 11.6% in November to 13.3% in December. The Central Bank sees the economy growing 5.1% this year and 5.2% in 2012.
Author: Armando Ciccarelli, Head of Data Solutions