Costa Rica Economic Activity December 2019

Costa Rica

Costa Rica: Economic momentum gathers in December

February 11, 2020

Annual economic growth in cyclically-adjusted terms accelerated to 2.8% in December from November’s downwardly revised 2.7% (previously reported: +2.9% year-on-year), representing the highest reading in nearly one-and-a-half years.

December’s improvement was largely due to stronger growth in the manufacturing, transportation and storage, and ICT sectors. However, activity in the construction sector and mining and quarrying sector both fell at faster paces in December.

In month-on-month terms adjusted for working days, economic activity rose 0.2% in December, which was unchanged from November’s reading. Annual average growth, meanwhile, accelerated to 1.9% in December from 1.8% in November, reaching a seven-month high.

FocusEconomics Consensus Forecast panelists expect economic growth of 2.6% in 2020, which is unchanged from last month’s forecast, and 3.0% in 2021.

Author:, Economist

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Costa Rica Economic Activity Chart

Costa Rica Economic Activity December 2019

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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