Ecuador Economic Activity November 2019

Ecuador

Ecuador: Economic activity contracts in November

January 14, 2020

In November, economic activity fell 0.3% over the same month of 2018, according to the monthly economic activity indicator (IDEAC) released by the Central Bank of Ecuador. The result was above October’s contraction of 0.6%, which had marked the worst reading in over three years.

In month-on-month, seasonally-adjusted terms, economic activity rose 0.4% in November after coming in flat in October. Meanwhile, annual average growth in economic activity inched down to 0.5% from 0.8% in October.

Panelists surveyed for this month’s LatinFocus report expect the economy to grow 0.4% in 2020, which is down 0.1 percentage points from last month’s forecast. For 2021, the panel sees GDP growth accelerating to 1.2%.


Author:, Economist

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Ecuador Economic Activity Chart


Ecuador Economic Activity November 2019

Note: Year-on-year changes and annual average variation of trend-cycle economic activity in %.
Source: Ecuador Central Bank and FocusEconomics calculations.


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