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Costa Rica Economic Activity March 2024

Costa Rica: Economic activity records lowest expansion since September 2022 in March

Economic activity increased 1.9% year on year in March (February: +4.4% yoy). March’s figure marked the worst reading since September 2022. Looking at the details of the release, activity in the agriculture, forestry and fishing sector swung to contraction in March, and manufacturing output sector rose at a weaker rate. Moreover, growth in the information and communication sector also decelerated.

Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 5.1%, down from February’s 5.2% reading. On a monthly basis, economic activity grew 2.1% in seasonally adjusted terms in March, which was above February’s 0.7% expansion and marked the best result since July 2022.

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