Ecuador Economic Activity October 2019


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.

Panelists surveyed for this month’s LatinFocus report expect the economy to grow 0.5% in 2020, which is down 0.1 percentage points from last month’s forecast. For 2021, the panel sees GDP growth accelerating to 1.3%.

Author:, Economist

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Ecuador Economic Activity Chart

Ecuador Economic Activity October 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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