Ecuador Economic Activity December 2015

Ecuador

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.

Panelists surveyed for this month’s LatinFocus report see GDP growing 1.2% in 2016, which is down 0.4 percentage points from last month’s forecast. For 2017, panelists expect the economy to expand 1.2%.


Author:, Economist

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Ecuador Economic Activity Chart


Ecuador Economic Activity December 2015

Note: Year-on-year changes and annual average variation of economic activity in %.
Source: Ecuador Central Bank and FocusEconomics calculations.


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