Ecuador: Economic activity in remains in negative territory in December
February 11, 2016
In December, economic activity recorded another sharp contraction of 8.2% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Indice de Actividad Economica Coyuntural). December’s decrease was less severe than the 9.9% fall observed in November (previously reported: -10.2% year-on-year).
On a month-on-month basis, economic activity in December increased 0.16% in seasonally-adjusted terms, which contrasted the 0.19% decrease recorded in November. Annual average growth in economic activity fell 3.3% in December, which marked a deterioration from the 1.8% decrease recorded in November, and was the lowest reading since September 2009.
Author: Robert Hill, Economist