Costa Rica Economic Activity

Costa Rica

Costa Rica: Economic activity slows down slightly in May

July 11, 2014

In May, economic activity increased 4.4% over the same month last year according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure came in slightly below the 4.5% expansion recorded in April. Five of the twelve components of the index registered improvements; mining and quarrying as well as commerce recorded the largest rates of expansion. Conversely, the manufacturing industry contracted at the fastest pace among all components.

Compared to the previous month, economic activity rose 0.33%, which was down from the 0.40% expansion recorded in April. Meanwhile, annual average growth in economic activity rose from April’s 4.1% to 4.2% in May, which marked the highest growth rate in the past 16 months.

According to the Macroeconomic Programme 2014–2015, the Central Bank projects a 3.8% expansion in 2014 and economic growth of 4.1% for the following year. FocusEconomics Consensus Forecast panelists foresee growth of 3.8% this year, which is unchanged from last month’s projection. For 2015, participants see economic growth at 4.1%.


Author: Teresa Kersting, Economist

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Costa Rica Economic Activity May 2014

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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