Costa Rica: Economic activity growth accelerates in December
In December, year-on-year growth in economic activity accelerated to the fastest pace in 10 months, increasing from a revised 3.2% in November (previously reported: +2.4% year-on-year) to 3.5%, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR).
December’s result was underpinned by increased activity in the services and manufacturing sectors. However, despite strong growth in public-sector construction activity, including that related to the building of a large port terminal in MoÃn, Limón province, weaker private-sector activity led to an overall decline in construction activity.
In month-on-month terms, the growth rate in economic activity decelerated from a revised 0.58% in November (previously reported: +0.39% month-on-month) to 0.52% in December. Meanwhile, year-on-year average growth remained unchanged from November’s 3.1% in December.