Ecuador Economic Activity October 2016

Ecuador

Ecuador: Economic activity jumps in October

December 12, 2016

In October, economic activity expanded 17.9% year-on-year, according to the monthly indicator for economic activity (IDEAC, Índice de Actividad Económica Coyuntural). The reading contrasted September’s 4.9% drop and marked the highest figure in over two years.

On a month-on-month basis, economic activity in October increased 1.05% in seasonally-adjusted terms, which was below the revised 1.12% increase recorded in September (previously reported: +0.26% month-on-month). In October, the annual average variation in economic activity declined by 5.0% after September’s 7.2% contraction, which marked the best reading in eight months.

Panelists surveyed for this month’s LatinFocus report see GDP contracting 2.3% in 2016, which is unchanged from last month’s forecast. For 2017, panelists expect economic growth to remain flat, which is up 0.1 percentage points from last month’s estimate.


Author:, Economist

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Ecuador Economic Activity Chart


Ecuador Economic Activity October 2016

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


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