Ecuador: Economic activity sees double digit contraction in October
December 20, 2015
In October, economic activity collapsed 11.5% 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 0.11% 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.
Author: Robert Hill, Economist