Costa Rica Economic Activity September 2021

Costa Rica

Costa Rica: Economic activity growth ebbs in September

November 11, 2021

Economic activity rose 11.5% terms in September, which was a deterioration from August's 11.9% increase. Looking at the details of the release, September’s more moderate growth was due to a broad-based slowdown across most sectors amid a less favorable base effect.

On a monthly basis, economic activity increased 0.5% in calendar-adjusted terms in September, which was below August’s 0.7% expansion and marked the lowest result since July 2020. Meanwhile, annual average economic activity growth rose to 4.0% in September (August: +2.0%), signaling an improving trend in the sector.

FocusEconomics Consensus Forecast panelists project the economy to expand 4.4% in 2022, which is up 0.3 percentage points from last month’s forecast. In 2023, panelists forecast the economy to grow 3.5%.

Author:, Junior Economist

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