Costa Rica Economic Activity December 2018

Costa Rica

Costa Rica: Economic activity growth slows for seventh month running

February 11, 2019

Cyclically-adjusted annual economic growth slowed to 1.8% in December from 1.9% in November, representing the lowest growth rate since December 2013. This is according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica.

Growth in December was weighed on by contractions in the mining and quarrying, and agriculture, forestry and fishing sectors. On the other hand, economic activity growth was supported by solid readings in the ICT and financial services sectors.

In month-on-month terms when adjusted for working days, economic activity increased 0.2% in December, as it did in November. Year-on-year annual average growth slowed to 2.7% in December from 2.8% in November.

Costa Rica GDP Forecast

The Central Bank of Costa Rica forecasts economic growth of 3.2% in 2019 and 3.0% in 2020. FocusEconomics Consensus Forecast panelists expect growth of 2.8% in 2019, which is down 0.1 percentage points from last month’s forecast, and 3.0% in 2020.

Author:, Economist

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Costa Rica Economic Activity Chart

Costa Rica Economic Activity December 2018 0

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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