Costa Rica: Economic activity nosedives at record pace in July
According to the Central Bank of Costa Rica’s monthly activity index, economic activity plummeted a record 7.7% in year-on-year terms in July, following June’s 7.5% drop.
July’s print reflected the negative impact that the pandemic and associated containment measures have had on activity. Most sectors recorded a drop, except for the information and communications sector, which recorded a moderate increase. Meanwhile, accommodation and food, mining and quarrying, and transportation and storage were the most affected sectors, following global border closures and trade disruptions.