Ecuador: Economic activity grows at the swiftest pace in nearly four years in August
According to the monthly economic activity indicator (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador, economic activity accelerated in August, growing 5.3% over the same month of the previous year, after expanding 4.0% year-on-year in July. August’s print marked the fastest pace of growth since October 2014. A boost in oil production underpinned the pick up in activity.
In month-on-month, seasonally-adjusted terms, economic activity rose to a four-month high of 0.8% in August following a 0.6% upturn in July.