Costa Rica Economic Activity

Costa Rica

Costa Rica: Growth in economic activity continues to slow in April

June 11, 2015

In April, economic activity expanded 1.1% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure, which was below the 1.5% increase tallied in March, marked the 12th month of deceleration and the lowest reading since August 2009. As in the previous month, agriculture and manufacturing registered the most significant contractions, while mining and the financial services sectors observed the strongest growth.

Compared to the previous month, economic activity expanded 0.04%, slightly up from the 0.01% increase recorded in March (previously reported: +0.12% month-on-month). Meanwhile, annual average growth in economic activity fell from March’s 3.1% to 2.8%, the lowest rate since February 2010.

According to the Central Bank’s 2015–2016 Macroeconomic Program, the Bank sees economic growth of 3.4% in 2015 and of 4.1% in 2016. FocusEconomics Consensus Forecast panelists foresee growth of 3.5% in 2015, which is unchanged from last month’s projection. For 2016, participants see economic growth of 3.9%.

Author:, Economist

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Costa Rica Economic Activity Chart

Costa Rica Economic Activity April 2015

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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