Costa Rica: Economic activity growth accelerates at fastest pace in over two decades in April
June 11, 2021
Economic activity gained further traction in April, expanding at a multi-decade high pace of 8.8% in annual terms—albeit partly due to a low base effect—accelerating from March’s 2.5% rise.
Looking at the details of the release, April’s upturn was broad-based. Output in the manufacturing and commerce sectors expanded notably, while activity in the transportation and storage, the hospitality and food, and the mining and quarrying sectors rebounded markedly.
On a calendar-adjuster monthly basis, economic activity rose 0.6% in April, moderating from March’s 0.7% increase. Meanwhile, the trend pointed up, with annual average variation of economic activity coming in at minus 4.3% in April (March: minus 5.7%).
Author: Marta Casanovas , Junior Economist