Costa Rica Economic Activity June 2017

Costa Rica

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.

The BCCR expects the economy to expand 3.8% in 2017 and 4.1% 2018. FocusEconomics Consensus Forecast panelists expect GDP growth to reach 4.0% in 2017, which is unchanged from last month’s forecast. In 2018, our panelists expect GDP growth to edge down to 3.9%.


Author:, Economist

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Costa Rica Economic Activity June 2017

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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