Ecuador: Economic activity slows in June
August 12, 2011
In June, the monthly indicator for economic activity (IDEAC, indice de Actividad Economica Coyuntural) rose 8.7% over the same month last year, which was below the revised 12.8% increase observed in May (previously reported: +11.9% year-on-year). A month-on-month comparison confirms the moderation suggested by the annual figures, as economic activity expanded a seasonally adjusted 1.41% over the previous month, which was below the 1.50% increase tallied in May. Despite the strong expansion, the trend continues to point downwards, with annual average growth in economic activity falling from 9.7% in May to 8.7% in June, the slowest pace since July 2008. The government expects the economy to expand 5.3% this year before slowing to 4.2% in 2012.
Author: Ricardo Aceves, Senior Economist