Costa Rica Economic Activity

Costa Rica

Costa Rica: Growth in economic activity ticks up in June

August 11, 2015

In June, economic activity expanded 1.5% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). June’s figure, as well as the revised 1.4% increase tallied in May (previously reported: +1.3% year-over-year), indicate an end to the 12-month streak of no expansion. June’s gains were due to a positive contribution from the service sector, including transport, storage and communication, trade and financial intermediation.

Compared to the previous month, economic activity expanded 0.22%, slightly up from the 0.21% increase recorded in May (previously reported: +0.23% month-on-month), marking the highest figure in over a year. Meanwhile, annual average growth in economic activity fell from May’s 2.3% to 2.1%, the lowest rate since April 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 June 2015 0

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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