Costa Rica: The economy grows at a steady, modest pace in January
March 14, 2019
Annual economic growth in cyclically-adjusted terms was unchanged in January from December’s revised 1.6% reading (previously reported: +1.8% year-on-year), according to the monthly index of economic activity published by the Central Bank of Costa Rica. Growth in January was most prominently supported by an expanded services sector, while the manufacturing and construction sectors also grew. On the other hand, weighing on economic activity in January was a contraction in the agriculture sector.
In month-on-month terms adjusted for working days, economic activity increased 0.2% in January, as it did in December. Year-on-year annual average growth slowed to 2.5% in January from 2.6% in December.
Costa Rica GDP Forecast
The Central Bank of Costa Rica forecasts economic growth of 3.2% in 2019 and 3.0% in 2020. FocusEconomics Consensus Forecast panelists expect growth of 2.8% in 2019, which is unchanged from last month’s forecast, and 3.0% in 2020.
Author: Edward Gardner, Economist