Costa Rica: Contraction in economic activity eases further in November
January 12, 2021
Economic activity continued to shrink in November, although at 6.5% year-on-year it is the mildest contraction since March, following October’s 6.6% drop.
November’s improvement reflected a soft expansion in the manufacturing, information and communication, and professional services sectors. Meanwhile, the transportation and storage, and the commerce sectors recorded milder contractions.
In month-on-month terms adjusted for working days, economic activity grew 0.2% in November, the softest rate in four months (October: +0.3% mom). Meanwhile, annual average growth worsened, coming in at minus 4.6% in November, down from October’s minus 3.9% print.
Author: Marta Casanovas , Junior Economist