Ecuador: Economic activity contracts in January
In January, economic activity contracted 0.5% year-on-year, according to the monthly indicator for economic activity (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador. The rate of contraction eased from December’s revised 1.2% decline (previously reported: -0.9% year-on-year).
In month-on-month, seasonally-adjusted terms, economic activity rose 0.7% in January. This was a bigger increase than the revised 0.5% expansion in December (previously reported: +0.6% month-on-month)