Economic activity in Ecuador November 2022

Economic activity rose 4.0% year-on-year in November, which is higher than October’s rise of 1.2%. Subdued growth in consumer and producer prices would have supported activity, while a further increase in the headline figure was likely to be hampered by lower oil production numbers.

Meanwhile, average annual economic activity growth continued its downward trend, falling to 7.7% in November (October: +8.6%), its lowest level in more than a year.

FocusEconomics panelists estimate the economy will grow 2.9% in 2023, down 0.1 percentage point from last month’s forecast, and expand 3.4% in 2024.

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