Costa Rica Economic Activity March 2018

Costa Rica

Costa Rica: Economic activity decelerates in March

May 11, 2018

In March, annual growth in economic activity decelerated to 3.1% from an upwardly revised 3.2% expansion in February (previously reported: +3.0% year-on-year), according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR).

March’s slowdown in growth came amid a year-on-year contraction in the mining and quarrying sector and a stagnant construction sector. On the other hand, the information and communication, and transportation and storage sectors both recorded strong expansions in March.

In month-on-month terms, the economic activity growth rate remained steady at February’s 0.2% in March. Meanwhile, year-on-year average growth was also unchanged from February in March, holding at 2.9%.

Costa Rica GDP Forecast


The BCCR expects the economy to expand 3.6% in 2018 and 3.9% in 2019. FocusEconomics Consensus Forecast panelists expect GDP growth to reach 3.5% in 2018, which is unchanged from last month’s forecast. In 2019, our panelists expect GDP growth to come in at 3.6%.


Author:, Economist

Sample Report

Looking for forecasts related to Economic Activity in Costa Rica? Download a sample report now.

Download

Costa Rica Economic Activity Chart


Costa Rica Economic Activity March 2018

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


Costa Rica Economic News

  • Costa Rica: The economy accelerates in July

    September 11, 2019

    Annual economic growth in cyclically-adjusted terms accelerated to 1.5% in July from June’s revised 1.3% (previously reported: +1.5% year-on-year), nevertheless, economic activity remained subdued by historical standards. Although economic growth ticked up in July, partly on strong activity growth in the ICT sector, it was still hampered by a continued decline in activity in the agriculture sector, which is struggling following a prolonged spell of dry weather, partly due to the El Niño effect.

    Read more

  • Costa Rica: Government proposes tightening the belt in 2020

    September 9, 2019

    On 30 August, the fiscally-strained government of Costa Rica presented to Congress its 2020 budget proposal, which outlines cutting spending by 4.3% compared to this year.

    Read more

  • Costa Rica: Inflation holds steady in August, while the Central Bank leaves rates unchanged on 21 August

    September 6, 2019

    Consumer prices fell 0.1% in August compared to the previous month, contrasting the 0.7% jump in July, which was a three-and-a-half year high and due to the introduction of an expanded VAT in the month.

    Read more

  • Costa Rica: The economy remains sluggish in June

    August 9, 2019

    Annual economic growth in cyclically-adjusted terms inched up to 1.5% in June from May’s revised 1.4% (previously reported: +1.3% year-on-year), which represented the weakest reading since December 2009. Growth remained historically subdued in June due to a continued decline in activity in the agriculture sector, which is struggling following a prolonged spell of dry weather, partly due to the El Niño effect.

    Read more

  • Costa Rica: The economy grows at a near decade-low rate in May

    July 12, 2019

    Annual economic growth in cyclically-adjusted terms slowed to 1.3% in May, down from April’s revised 1.4% growth (previously reported: +1.6% year-on-year).

    Read more

More news

Search form