Costa Rica Economic Activity

Costa Rica

Costa Rica: Growth in economic activity edges up in July

September 11, 2015

In July, economic activity expanded 2.1% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). July’s figure came in above June’s 1.8% rise and marked a third consecutive acceleration after the indicator decelerated for 12 months. In July, the largest gains were recorded for financial intermediation, financial series and insurances.

Compared to the previous month, economic activity expanded 0.33%, marginally up from the 0.30% increase recorded in June and marking the highest figure in 16 months. Meanwhile, annual average growth in economic activity fell from June’s 2.3% to 2.2%, 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 3.4% in 2015, which is unchanged from last month’s projection. For 2016, participants see economic growth of 3.8%.

Author:, Economist

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Costa Rica Economic Activity Chart

Costa Rica Economic Activity July 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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