Costa Rica: Economic activity decelerates in February
April 10, 2018
In February, year-on-year growth in economic activity decelerated to 3.0% from a 3.1% expansion in January, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR) on 10 April.
February’s weaker result was driven by a slower expansion in transportation and storage activity compared to January, alongside weaker growth in the activity groups of professional services, finance and insurance, and mining and quarrying. There was also a contraction in construction activity in February.
In month-on-month terms, the growth rate in economic activity decelerated to 0.14% in February from 0.19% in January. Meanwhile, year-on-year average growth remained steady at January’s 2.9% in February.
Author: Edward Gardner, Economist