Ecuador: Economic activity remains buoyant at the outset of 2012
March 15, 2012
In January, economic activity jumped 26.3% over the same month last year, according to the monthly indicator for economic activity (IDEAC, indice de Actividad Economica Coyuntural). The increase came in well above the resilient 19.6% rise recorded in December. A month-on-month comparison, however, does not corroborate the acceleration suggested by the annual figures, as economic activity increased only 1.21% over the previous month in seasonally adjusted terms, down from the 1.63% expansion recorded in December. Nevertheless, the trend continues to improve, with annual average growth climbing to 16.4% in January from 14.7% in December. The Central Bank expects the economy to grow 5.4% in 2012, while the government sees economic growth at 5.2%, according to its 2012 draft budget.