Costa Rica Economic Activity February 2019

Costa Rica

Costa Rica: Dry weather holds back economy in February as agriculture output drops for fifth month running

April 10, 2019

Annual economic growth in cyclically-adjusted terms was unchanged in February from January’s revised 1.7% reading (previously reported: +1.6% year-on-year), according to the monthly index of economic activity published by the Central Bank of Costa Rica.

Growth in February 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 fifth 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 February, as it did in January. Annual average growth slowed to 2.4% in February from 2.5% in January.

The Central Bank of Costa Rica forecasts economic growth of 3.2% in 2019 and 3.0% in 2020. FocusEconomics Consensus Forecast panelists expect growth of 2.8% in 2019, which is unchanged from last month’s forecast, and 2.9% in 2020.

Author:, Economist

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Costa Rica Economic Activity Chart

Costa Rica Economic Activity February 2019

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

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