Ecuador Economic Activity

Ecuador

Ecuador: Economic activity sees double digit contraction in October

December 20, 2015

In October, economic activity collapsed 10.5% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Indice de Actividad Economica Coyuntural). October’s decrease was a sharp deterioration from the 0.8% fall observed in September, and the lowest reading in five months.

On a month-on-month basis, economic activity in October increased 0.40% in seasonally-adjusted terms, which was virtually unchanged from the 0.41% increase recorded in September. Annual average growth in economic activity fell 0.7% in October, which contrasted the 0.7% increase recorded in September.

Panelists surveyed for this month’s LatinFocus report see GDP growing 0.1% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, panelists expect the economy to expand 0.5%.


Author:, Economist

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Ecuador Economic Activity Chart


Ecuador Economic Activity October 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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