Costa Rica Economic Activity December 2023

Costa Rica: Economic activity growth drops to over one-year low in December

Economic activity expanded 2.3% in year-on-year terms in December, which was a deterioration from November’s 5.0% increase. The figure marked the worst reading since September 2022. The deceleration largely reflected a drop in the agriculture, forestry and fishing sector. In addition, activity in the information and communication sector lost pace.

Meanwhile, annual average economic activity growth fell to 5.4% in December (November: +5.6%), pointing to a worsening trend. On a seasonally adjusted monthly basis, economic activity fell 0.5% in December (November: +0.6% mom), the worst result since March.