In September, economic activity increased 3.4% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure, the lowest since May 2011, came in below the revised 3.7% expansion recorded in August (previously reported: +3.2% year-on-year). As in previous months, the deceleration was mostly driven by softer growth in the manufacturing sector. Compared to the previous month, economic activity added 0.25% in seasonally adjusted terms, which contrasted the virtually flat reading recorded in August. As a result of the weaker annual reading, annual average economic growth inched down from 5.9% in August to 5.8%. Based on the monthly figures, in the third quarter the economy is likely to have expanded 3.8% over the same period last year, which would mark a deceleration compared to the 5.7% expansion seen in the second quarter. According to the latest revision to the Macroeconomic Programme 2012-2013, the Central Bank sees the economy expanding 4.8% this year. For 2013, the Bank expects economic growth to slow to 4.2%.
Costa Rica Economic Activity
Economic activity decelerates on weak manufacturing growth
November 9, 2012
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Costa Rica Economic Activity Chart
Note: Year-on-year changes and annual average variation of trend-cycle economic activity in %.
Source: Costa Rica Central Bank (BCCR) and FocusEconomics calculations.
Costa Rica Economic News
October 12, 2016
In August, economic activity slowed down slightly to a 4.5% increase from the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica).
October 10, 2016
Consumer prices fell 0.47% in September from the previous month, which contrasted August’s 0.03% increase and marked the lowest reading since March 2016.
October 3, 2016
In the second quarter of 2016, GDP expanded 4.1% over the same period last year.
September 12, 2016
In July, economic activity slowed down slightly to a 5.1% increase over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica).
September 7, 2016
Consumer prices increased 0.03% over the previous month in August, which was a significant slowdown compared to July’s 0.93% increase.