Costa Rica: Economic activity inches up in June
August 11, 2017
Economic activity inched up from a revised 4.1% in May (previously reported: 3.9% year-on-year) to 4.2% in June in annual terms, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR). June’s result is the highest in five months and marks the third consecutive monthly acceleration. Looking at the result in more detail, the uptick in economic activity was broad-based, with the services, manufacturing, agriculture and construction industries all contributing to the solid performance.
On a monthly basis, growth in economic activity inched down from a revised 0.31% in the previous month (previously reported: 0.33% month-on-month) to 0.28% in June. June’s slowdown in growth reversed the hitherto upward trend observed since the beginning of the year. However, annual average growth increased slightly from a revised 4.2% in May (previously reported: 3.9%) to 4.3% in June, the highest level since February.
Author: Jan Lammersen, Economist