In June, economic activity increased 5.3% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure came in below the revised 5.8% expansion recorded in May (previously reported: +5.1%% year-on-year). As in previous months, the deceleration was buttressed mostly by softer growth in the manufacturing sector, which slowed for the fourth month in a row but expanded a still healthy 7.5%. Compared to the previous month, economic activity added a paltry 0.02% in seasonally adjusted terms, which contrasted 0.08% contraction in May. Despite the weaker reading, the trend picked-up, with annual average economic growth inching up from 5.8% in May to 5.9% in June, its highest level since June 2008. According to the July revision to the Macroeconomic Programme 2012-2013, the Central Bank sees the economy expanding 4.8% this year, up from the previous 3.8%. For 2013, the Bank now expects economic growth to slow to 4.2%.
Costa Rica Economic Activity
Economic activity slows but remains firm
August 13, 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.