Ecuador: Economic activity moderates in February
April 12, 2012
In February, economic activity grew 14.1% over the same month last year, according to the monthly indicator for economic activity (IDEAC, indice de Actividad Economica Coyuntural). The print came in slightly below the 14.4% rise recorded in January (previously reported: +26.3% year-on-year). A month-on-month comparison, however, does not corroborate the moderation suggested by the annual figures, as economic activity increased 1.25% in seasonally adjusted terms, up from the 1.16% rise recorded in January. Despite the weaker annual reading, the trend continues to improve, with annual average growth inching up from 15.4% in January to 15.5% in February. The Central Bank expects the economy to expand 5.4% in 2012, while the government sees economic growth at 5.2%, according to its 2012 draft budget.