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.
Author: David Ampudia, Economist