Costa Rica: Dry weather continues to hold back economy activity in March
May 10, 2019
Annual economic growth in cyclically-adjusted terms was unchanged in March from February’s revised 1.9% reading (previously reported: +1.7% year-on-year), according to the monthly index of economic activity published by the Central Bank of Costa Rica.
Growth in March was supported by increased output in the services and construction sectors. On the other hand, weighing on economic activity was a decrease in output in the agriculture sector, which represented the sixth consecutive month of falling output and was partly due to a prolonged spell of dry weather.
In month-on-month terms adjusted for working days, economic activity increased 0.2% in March, down from 0.3% in February. Annual average growth slowed to 2.3% in March from 2.4% in February.
Author: Edward Gardner, Economist