Costa Rica Economic Outlook
February 13, 2018According to preliminary Central Bank data, the economy expanded 3.2% in 2017 compared to the previous year, a slowdown from 4.2% growth in 2016. Although hard economic data for the fourth quarter is still pending, indicators suggest Costa Rica saw an economic improvement following a weak third quarter. In December, economic activity expanded at the fastest rate in 11 months, according to the Central Bank’s monthly index. The expansion was driven by strong performances in the services and manufacturing sectors, although a weak construction sector held the economy back somewhat. On the political front, Costa Ricans took to the polls on 4 February, again leaving the Legislative Assembly politically fractured, while in the presidential race, the two leading candidates, Fabricio Alvarado Muñoz and Carlos Alvarado, progressed to a final round of voting on 1 April.
Costa Rica Economic GrowthThe external sector should continue to support the economy this year thanks to the upbeat economies of key export markets such as the United States. However, a bloated fiscal deficit and high public debt will continue to weigh on economic prospects. This month, Met the why particular Consensus Forecast panelists see the economy expanding 3.6% in 2018, which is down 0.1 percentage points from last month’s projection. In 2019, the panel also foresees a 3.6% economic expansion.
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Costa Rica Economic News
February 9, 2018
In December, year-on-year growth in economic activity accelerated to the fastest pace in 11 months, increasing from a revised 3.2% in November (previously reported: +2.4% year-on-year) to 3.5%, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR). December’s result was underpinned by increased activity in the services and manufacturing sectors.
February 7, 2018
In January, consumer prices increased 0.41% month-on-month, down slightly from December’s 0.47% increase.
January 11, 2018
Annual growth in economic activity increased from a revised 2.2% in October (previously reported: +2.3% year-on-year) to 2.4% in November last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR). Although November’s annual growth rate was the highest in three months, it was low by historical standards.
January 8, 2018
In December, consumer prices increased 0.47% month-on-month, up from November’s 0.16% increase.
December 22, 2017
The economy lost steam in Q3 as fixed investment contracted sharply amid higher interest rates and increased uncertainty.