Ecuador: Economic activity accelerates in December
According to the monthly economic activity indicator (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador, economic activity accelerated for the tenth month running in December, expanding 6.6% over the same month of the previous year. This was up from November’s 6.1% year-on-year expansion and marked the fastest pace of growth in economic activity in over four years. A detailed breakdown of sectoral activity has not yet been made available, but the upturn in the final quarter is likely owing to a large base effect as activity contracted in the same period of last year amid weak economic conditions.
In month-on-month, seasonally-adjusted terms, economic activity rose 0.9% over the previous month in December, up from a 0.7% month-on-month upturn in November.