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).

The document explains that "... Agricultural activity, trade and construction presented in May 2019 a decrease in production. In addition, with the exception of financial services, all other economic activities registered a rate of variation lower than that observed in May 2018. The slowdown in production has been associated with various factors, among them:

1) Adverse climatic factors that have affected agricultural activity.
2) Lower number of cultivated hectares and lower production of pineapple, because of the reduction in international prices due to the worldwide increase in the exportable supply of this fruit.
3) Socio-political situation in Nicaragua that impacted exports of goods from Costa Rica to that country and to the rest of Central America.
4) Uncertainty generated by the entry into force of the fiscal reform, according to consultations made by the Central Bank to businessmen in the construction industry and trade."

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