Construction and Services Boost Economic Activity

In February 2019 in Costa Rica the Monthly Index of Economic Activity reported a 1.7% year on year increase, mainly because of the behavior of construction and services.

Thursday, April 11, 2019

In February 2019, the country's production, measured with the Monthly Economic Activity Index, registered a 1.7% year-on-year variation, higher by 0.12% (p.p.) than the data registered in December (month that presented the lowest growth of 2018). With this result the variation of the last twelve months stood at 2.4%, reported the Central Bank of Costa Rica (BCCR).

The BCCR report states that "... Data to the first two months seem to indicate that the slowdown process affecting the economy in the second half of 2018 has stopped, showing a slight recovery in national economic activity.

For the month in question, the construction and financial services industries recorded an acceleration compared to the previous year. On the other hand, the rest of economic activities moderated their growth with respect to February 2018. In particular, agricultural activity and trade showed negative variations, similar to what was observed last January.

The deficit of rains affecting the Caribbean and other regions of the country associated with the climate phenomenon El Niño, explained the decrease of 1.0% in agricultural activity, with banana production resulting in the greatest impact and to a lesser extent, the crops of banana, potato, onion and chayote.


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More on this topic

Economic Activity Does Not Rebound

July 2019

In Costa Rica, the Monthly Economic Activity Index reported a 1.3% year-on-year increase in May, one of the lowest growth rates reported in recent years, since a similar variation had not been registered since November 2013.

The trend series of the Monthly Index of Economic Activity 1 registered in May 2019 a 1.3% year-on-year growth, which is lower by 2 percentage points (p.p.) to the same month of the previous year and by 0.2 p.p. to the previous month, informed the Central Bank of Costa Rica (BCCR).

Economic Activity Remains Low

March 2019

During January 2019, the Monthly Index of Economic Activity in Costa Rica reported a 1.6% year-on-year increase, which is less than the 3.2% recorded in the same month last year.

With the exception of construction, all economic activities were less dynamic than in January 2018. The Central Bank of Costa Rica (BCCR) reported that agricultural activity and trade showed negative variations.

Guatemala: Economic Activity Up 2% up to April 2018

June 2018

Manufacturing and transportation were the sectors that accounted for most of the variation in the economic activity index during the fourth month of the year.

From a report by the Bank of Guatemala:

The economic activity measured by the IMAE estimate, in April 2018, showed a growth rate of 2.3% (1.7% in April 2017).  

Guatemala: Economic Activity Up 2% as of March 2018

May 2018

Trade and private services, were the sectors that accounted for most of the variation in the index of economic activity during the third month of the year.

From a report by the Bank of Guatemala:

Economic activity measured by the IMAE estimate, in March 2018, showed a growth rate of 2.0% (3.9% in March 2017).

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