Ecuador: Economic activity decelerates in January
March 15, 2011
In January, the monthly indicator for economic activity (IDEAC, indice de Actividad Economica Coyuntural) rose 5.5% over the same month last year, which represented an abrupt slowdown over the strong 16.1% increase (previously reported: +19.2% yoy) recorded in December. A month-on-month comparison does not corroborate the strong deceleration seen in annual figures. Economic activity expanded 1.35% over the previous month in seasonally adjusted terms, which was only slightly below the 1.42% increase recorded in December. That said, the trend remained stable as annual average growth was unchanged at December's 12.4%. The Central Bank sees the economy growing 5.1% this year and 5.2% in 2012.
Author: Armando Ciccarelli, Head of Data Solutions