Costa Rica Economic Activity September 2018

Costa Rica

Costa Rica: Economic activity growth slows in September

November 9, 2018

Annual working-day adjusted growth in economic activity slowed to 2.5% in September from 2.8% in August. This is according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank.

In September, 3 out of the 14 economic sectors in Costa Rica did not achieve growth. These were the education and healthcare, public administration, and mining and quarrying sectors. Out of those that did grow, the construction sector was by far the fastest growing, as it continued to recover from last year’s downturn, while the ICT sector also expanded quickly.

In month-on-month terms when adjusted for working days, economic activity increased 0.1% in September, contrasting the no-change result in August. Year-on-year annual average growth ticked down to 2.5% in September from 2.8% in August.

FocusEconomics Consensus Forecast panelists expect GDP growth to reach 3.1% in 2019, which is down 0.1 percentage points from last month’s forecast. In 2020, our panelists expect GDP growth to come in at 3.4%.

Author:, Economist

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Costa Rica Economic Activity Chart

Costa Rica Economic Activity September 2018

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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