Costa Rica Economic Activity

Costa Rica

Costa Rica: Economic activity decelerates slightly in June

August 12, 2014

In June, economic activity rose 4.1% over the same month last year according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure came in below the 4.4% expansion recorded in May. Seven of the twelve components of the index registered improvements; mining and quarrying as well as construction tallied the fastest rates of expansion. Conversely, the manufacturing industry contracted at the fastest pace among all of the components.

Compared to the previous month, economic activity rose 0.31%, which was slightly down from the 0.34% expansion recorded in May. Meanwhile, annual average growth in economic activity remained stable at May’s 4.3%, which continued to mark the highest growth rate in the past 17 months.

According to July’s revision to the Macroeconomic Programme 2014–2015, the Central Bank projects a 3.6% expansion in 2014 and economic growth of 3.4% for the following year. FocusEconomics Consensus Forecast panelists foresee growth of 3.7% this year, which is down 0.1 percentage points from last month’s projection. For 2015, participants see economic growth at 3.9%.

Author: Teresa Kersting, Economist

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Costa Rica Economic Activity Chart

Costa Rica Economic Activity June 2014

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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