Ecuador: Economic activity falls to over three-year low in October
December 17, 2019
In October, economic activity fell 0.6% over the same month of the previous year, according to the monthly economic activity indicator (IDEAC) released by the Central Bank of Ecuador. The result was below September’s revised contraction of 0.5% (previously reported: +2.1% year-on-year) and marked the lowest reading in over three years.
In month-on-month, seasonally-adjusted terms, economic activity was flat in October (September: -0.1% month-on-month). Annual average growth in economic activity, however, inched down to 0.8% in October from 1.2% in September.
Author: Hanna Andersson, Economist