Costa Rica: Economic activity growth creeps up in August
October 11, 2018
In August, annual growth in economic activity inched up to 3.8% from 3.7% in July. This is according to a monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR) that is adjusted for working days. August’s reading represented the highest growth rate since December 2016.
The acceleration in August came on the back of a nearly broad-based increase in economic activity. The only sector that did not achieve growth in annual terms was the mining and quarrying sector. The fastest growing economic activities in August were construction, information and communications, and agriculture.
In month-on-month terms when adjusted for working days, economic activity growth remained steady at July’s 0.3% in August. Meanwhile, year-on-year annual average growth ticked up to 3.2% in August from 3.1% in July.
Author: Edward Gardner, Economist