Costa Rica: Economic activity expands at 10 month-low in January
March 14, 2022
Economic activity continued to lose steam in January, after growing 9.0% in annual terms (December: +9.5% yoy) and marking the lowest outturn in 10 months. January’s figure was due to a broad-based slowdown across a number of sectors: Agriculture, forestry and fishing, mining, transportation and manufacturing all lost pace compared to the previous month. That said, faster growth in the construction sector bolstered activity.
On a monthly basis, economic activity grew 0.4% in calendar-adjusted terms in January, following December’s 0.5% increase. Meanwhile, the trend improved, with the annual average growth of economic activity coming in at plus 9.1%, up from the previous month’s 8.1% reading.
Author: Jonuel Pérez, Junior Economist