Ecuador: Economic activity continues decelerating in February
April 15, 2011
In February, the monthly indicator for economic activity (IDEAC, indice de Actividad Economica Coyuntural) rose 2.4% over the same month last year, which represented a slowdown compared to the 6.0% increase (previously reported: +5.5% year-on-year) recorded in January. A month-on-month comparison corroborates the deceleration seen in annual figures. Economic activity expanded 1.05% over the previous month in seasonally adjusted terms, which was slightly below the 1.17% increase recorded in January. As a result, the trend pointed downwards, as annual average growth dropped to 11.8%, down from the 13.5% seen in January. The Central Bank sees the economy growing 5.1% this year and 5.2% in 2012.
Author: Armando Ciccarelli, Head of Data Solutions