Economic Activity Grows Slowly

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.

Monday, October 14, 2019

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.

The official report states that "... The year-on-year growth of the IMAE reached 1.6% in August and exceeded by two tenths of a percentage point (p.p.) the growth of July. By economic activity, the contraction continued in the production of the industries of construction, trade, agriculture and livestock and manufacturing of the regular regime.

Thus, in the first eight months of the year, production reached an average growth of 1.5% and 1.7% in the last twelve months, both lower than those observed in the same period of the previous year.

Notwithstanding the above, the results show the following:
1. The reduction in year-on-year growth was the lowest since December 2018.
2. For the second consecutive month the monthly growth of the IMAE accelerated.
"

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More on this topic

Costa Rica: Economic Activity Grows 2.5%

December 2019

During October 2019, a 2.5% year-on-year variation was reported in the IMAE, a rise that is explained by the behavior of manufacturing activity and the service sector.

According to the report of the Central Bank of Costa Rica (BCCR), with the rise reported in the tenth month of the year, the Monthly Index of Economic Activity (IMAE) showed signs of recovery for the fifth consecutive month.

Costa Rican Economy: Signs of Recovery

November 2019

For the authorities of the Central Bank, the economy begins to show signs of recovery, because for four consecutive months the economic activity has registered a positive performance.

In June of this year, the Monthly Economic Activity Index (IMAE) began to show signs of recovery, recording a 1.2% year-on-year increase. In July and August, positive variations continued, with 1.4% and 1.7% increases reported, respectively.

Economic Activity Keeps Accelerating

November 2019

After year-on-year variations of 1.4% and 1.6%, respectively, will be reported in Costa Rica in July and August, in September the IMAE grew 2%, 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% year-on-year rate, according to information from the Central Bank of Costa Rica.

Costa Rica: Slight Improvement in Economic Activity

September 2019

After registering a 1.3% year-on-year variation in June, the Monthly Economic Activity Index in July reached 1.5%, which is mainly explained by the performance of the special regimes manufacturing sector.

After the first seven months of the year, average growth stood at 1.5%, while the average rate of the last twelve months was 1.8%, both lower than that recorded in the same period last year, reported the Central Bank of Costa Rica.

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