Costa Rica Economic Activity March 2017

Costa Rica

Costa Rica: Growth in economic activity slows for fourth consecutive month in March

May 12, 2017

Economic activity in Costa Rica increased 3.6% year-on-year in March, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) calculated by the Central Bank of Costa Rica (BCCR), coming in below February’s revised 3.7% rise (previously reported: +3.9% year-on-year). The print marked a fourth consecutive monthly deceleration of the index and the lowest reading since August 2016. The slowdown was driven by more moderate growth in the professional services compared to the previous month, while growth in the manufacturing sector accelerated from a month earlier.

On a sequential basis, economic activity increased 0.35% in March and came in above February’s 0.26% rise. Meanwhile, annual average growth in economic activity was 4.0% in March, which was down from 4.1% a month earlier.

The BCCR expects the economy to expand 4.1% in both 2017 and 2018. FocusEconomics Consensus Forecast panelists expect GDP growth to reach 4.0% in 2017, which is down 0.1 percentage points from last month’s forecast. In 2018, our panelists expect GDP growth to edge down to 3.8%.


Author:, Economist

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Costa Rica Economic Activity Chart


Costa Rica Economic Activity March 2017

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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