Economic Activity Keeps Accelerating

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.

Tuesday, November 12, 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% year-on-year rate, according to information from the Central Bank of Costa Rica.

Nacion.com reports that "... agriculture, which had had year-on-year falls until July, showed a 0.2% year-on-year increase in August and 0.8% in September. The manufacturing industry increased by 3.3% year-on-year in September 2019, with a tendency to accelerate."

There are activities that are still falling, like construction and trade, but the reductions are getting smaller every month. On the other hand, the financial and insurance activities continue to show little growth, just 2.2% in September.

Information and communications were the activities that grew most in September, recording a 7.7% increase over the same month in 2018.

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More on this topic

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 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.

Guatemala: Economic Activity Accelerates

February 2019

After recording at the end of 2017, a 2.6% year-on-year increase in economic activity, in December last year the IMAE closed a 3.3% increase.

The most recent figures estimated by the Bank of Guatemala (Banguat) specify that between November and December last year, economic activity registered a 5.7% increase.

Strike's Real Impact

November 2018

In September, economic activity in Costa Rica barely grew 2.5%, 0.3% over the previous month, mainly because of the effects of the activity stoppage caused by public employee unions.

The Central Bank of Costa Rica reported that the country's production, measured by the trend cycle series of the Monthly Economic Activity Index (IMAE), presented in September 2018 a year-on-year growth of 2.5%, which is 0.3 percentage points (p.p.) lower than the year-on-year growth of the previous month and 0.6 p.p. to September 2017.

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