Costa Rica Economic Activity

Costa Rica

Economic activity speeds in March reaching eight-month high

In March, economic activity increased 4.3% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure was well above the revised 3.9% rise recorded in February (previously reported: +3.6% year-on-year) and marks the fastest rate in eight months. The expansion was mostly driven by growth in the manufacturing sector and financial services.

Compared to the previous month, economic activity added 0.69% in seasonally adjusted terms, virtually in line with the revised 0.70% increase recorded in February (previously reported: +0.52% month-on-month). Despite the stronger March result, the trend continues to point downwards, with annual average growth in economic activity slowing from 4.5% in February to 4.3% in March.


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Costa Rica Economic Activity Chart

Costa Rica Economic Activity March 2013

Note: Year-on-year changes and annual average variation of trend-cycle economic activity in %.
Source: Costa Rica Central Bank (BCCR) and FocusEconomics calculations.

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