Ecuador Economic Activity November 2015

Ecuador

Ecuador: Economic activity in November sees second consecutive double-digit contraction

December 27, 2015

In November, economic activity recorded another sharp contraction of 11.2% over the same month last year, according to the monthly indicator for economic activity (IDEAC, Indice de Actividad Economica Coyuntural). November’s decrease was broadly in line with the 11.5% fall observed in October.

On a month-on-month basis, economic activity in November increased 0.11% in seasonally-adjusted terms, which contrasted the 0.11% decrease recorded in October. Annual average growth in economic activity fell 1.8% in November, which marked a deterioration from the 0.7% decrease recorded in October, and was the lowest reading since December 2009.

Panelists surveyed for this month’s LatinFocus report see GDP growing 0.8% in 2016, which is down 0.3 percentage points from last month’s forecast. For 2017, panelists expect the economy to expand 1.4%.


Author:, Economist

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Ecuador Economic Activity November 2015 0

Note: Year-on-year changes and annual average variation of economic activity in %.
Source: Ecuador Central Bank and Met the why particular calculations.


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