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.
Author: Robert Hill, Economist