Costa Rica: Economic activity growth softens in March
Economic activity continued to lose steam in March, growing 6.8% in annual terms (February: +7.7% yoy) and marking the weakest expansion since February 2020. This figure came on the back of steeper contractions in agriculture, forestry and fishing, and mining and quarrying, compounded by a broad-based slowdown across all other sectors from the previous month.
On a monthly basis, economic activity contracted 0.7% in seasonally-adjusted terms in March, down from last month’s minus 0.1%. Meanwhile, the trend slightly weakened from February, with the annual average growth of economic activity coming in at plus 7.8%, down from the previous month’s plus 9.2% reading.