Economic Activity Does Not Rebound

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.

Tuesday, July 16, 2019

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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More on this topic

Economic Activity Grows Slowly

October 2019

After recording a 1.4% year-on-year variation in July, in August the IMAE varied by 1.6%, again explained by the performance of the special regimes manufacturing sector.

The growth of the Monthly Economic Activity Index (IMAE) in August was driven by the production of special regimes (free zone and active perfecting), which grew at a 12.6% year-on-year rate, informed the Central Bank of Costa Rica.

Trade and Services Boost Economic Activity

October 2019

In August, the IMAE in Guatemala registered a 3.7% year-on-year variation, influenced by wholesale and retail trade activities, and private services.

The economic activity measured by the estimation of the IMAE, in August 2019, showed a 3.7% growth rate, variation that is slightly lower compared to the 3.8% registered in the eighth month of 2018, explains the report of the Banco de Guatemala.

Services and Industry Boost Economic Activity

August 2019

In Guatemala, the Economic Activity Index registered year-on-year growth of 3.1% in June, explained in part by the variations of Private Services and Manufacturing Industries.

According to the report of the Banco de Guatemala the economic activity measured by the estimation of the IMAE, reported a deceleration in June 2019, since it registered a 3.1% growth rate, increase that is lower to the variation of 3.5% reported in May of this year.

Transport and Manufacturing Boost the Economy

May 2019

In Guatemala the economic activity reported the third month of the year a 2.7% year-on-year growth rate, mainly because of the behavior of the Transportation and Manufacturing Industries sector.

The 2.7% increase in economic activity reported by the Banco de Guatemala in the third month of the year, represents an acceleration since in February 2019 the variation was only 1.9%.

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