Costa Rica Economic Activity October 2016

Costa Rica

Costa Rica: Growth in economic activity decelerates in October

December 12, 2016

In October, economic activity decelerated to a 3.9% increase from the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). October’s figure was below the 4.4% increase recorded in September. In October, the strongest improvements were recorded in the services sector, with the financial sector making the most significant contribution to growth. The manufacturing and information and communication sectors also picked up in October.

Compared to the previous month, economic activity expanded a meagre 0.10% in October, below the 0.40% increase recorded in September. Meanwhile, the overall trend worsened slightly as annual average growth in economic activity slowed down from 4.5% in September to 4.3% in October.

FocusEconomics Consensus Forecast panelists expect GDP to expand 3.8% in 2016, which is down 0.2 percentage points from last month’s projection. For 2017, participants see GDP growing 3.9%, which is unchanged from last month’s projection.

Author:, Economist

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Costa Rica Economic Activity Chart

Costa Rica Economic Activity October 2016

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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