In Costa Rica, the year-on-year growth of 4.2% reported up to June is mainly due to the recovery of the construction sector, a phenomenon that has been observed in the data since March 2018.
In June, the country's economic activity, measured by the cycle trend of the Monthly Index of Economic Activity (IMAE), showed a year-on-year growth of 4.2%. For the first semester of 2018, the average rate of change was 3.6%, while the accumulated rate for the last 12 months was 3.1%, reported the Central Bank of Costa Rica.
In June of this year, the IMAE in Honduras registered an interannual increase of almost 4%, explained for the third consecutive month by the activities of Financial Intermediation, Insurance and Pension Funds, and the Manufacturing Industry.
From a report issued by the Central Bank of Honduras:
In the seventh month of the year, the CPI reported an increase of 0.3% in the Transportation expense division, which is explained by an increase in the prices of tickets abroad.
The Central Bank of the Dominican Republic (BCRD) reported that accumulated inflation during the period January-July 2018 was 1.41%. This result is due to the fact that inflation in July 2018 remained practically neutral, with a variation of the CPI of -0.02% with respect to the previous month.
The cost of not making decisions about the serious fiscal problem affecting Costa Rica "is incommensurable and has the potential to affect not only the economic but also the social and democratic order of the country."
This is the emphatic and clear position of the Comptroller General of the Republic of Costa Rica regarding the serious and risky situation in which the public finances of the country find themselves.Furthermore, as is well mentioned in the report "Fiscal and Budgetary Evolution I semester 2018", published recently by the institution, if decisions related to solving problems of short-term liquidity and modifying the structure of public expenditure to the medium and long term continue to be delayed, the cost to the country will be much more than just economic.
Following the country's inflationary rhythm oscillating between 3.8% and 4.7% in the first six months of the year, in June the price indicator registered a variation of 2.6%.
From a report by the National Institute of Statistics:
The most important inflation levels in July 2018 are the following: monthly inflation of 0.36%, inflation rate of 2.61% and cumulative inflation of 1.08%.
In line with the year-on-year falls of 2%, 4% and 7% reported in March, April and May, in June 810,430 workers were registered as enrolled in the social security scheme, 12% less than was reported in the same month in 2017.
In relation to the performance of the sectors, the Central Bank of Nicaragua (BCN) reported that in year-on-year terms, most of the activities registered decreases, except for the manufacturing industry activities, and electricity, gas and water, which recorded increases of 1.4% and 0.2%, respectively.
In July, the CPI recorded a monthly variation of 0.28%, mainly explained by the prices recorded in the Food and non-alcoholic beverages and Entertainment and culture sectors.
From a report by the National Institute of Statistics and Census of Costa Rica:
During the seventh month of the year, the CPI recorded a monthly variation of -0.08%, mainly explained by the prices of Food and non-alcoholic beverages.
From a report by the Central Bank of Nicaragua:
The Consumer Price Index (CPI) showed a decrease of 0.08 percent (0.39% in July 2017), mainly explained by the behavior of prices in some goods and services in the divisions of Food and non-alcoholic beverages (-1.04% ); and Communications (-0.02%); which together contributed 0.364 percentage points to the observed variation.In contrast, the Transportation division showed an increase of 1.45 percent (0.112pp).
In line with the trend seen since last year, in July 2018, the Confidence Index of Economic Activity in Guatemala fell by 33% with respect to the same month in 2017.
The latest EconomicExpectations Survey prepared by Banco de Guatemala forecasts an inflationary rhythm of 4.19% for July, 4.22% for August and 4.36% for September 2018.As for December 2018 and 2019, the Panel foresees an inflationary rhythm of 4.45% and 4.43%, in that order.In addition, for a horizon of 12 and 24 months (July 2019 and July 2020), the Panel forecasts an inflationary rhythm of 4.26% and 4.36%, respectively.
In the first seven months of the year, income from family remittances totaled $818 million, exceeding by 11% the amount reported in the same period in 2017.
The consumer price index registered a monthly variation of 0.38%, due to an increase in the prices of perishable foods and those prepared in restaurants.
The activities that contributed the most to the accumulated growth in the first six months of the year were Construction, Commerce, Local Manufacturing, and Transportation and Storage.
Preliminary figures of the Monthly Indicator of Economic Activity (IMAE) at the end of June reveal that the Dominican economy has maintained the dynamism seen since the last quarter of 2017, registering a year-on-year expansion of 7.3% during the month of June, which places growth for the period January-June 2018 at 6.7%, according to information from the Central Bank of the Dominican Republic.
The slowdown in private consumption and investment could explain the projection of moderate economic growth for Costa Rica towards the third quarter of this year.
The Economic Sciences Research Institute at the University of Costa Rica released its analysis on the performance of the economy, and explained that it expects growth of the Gross Domestic Product for the second quarter of 2018 to oscillate between 2.9% and 3%, 25%, and a similar range for the III quarter of 2018.
In June, the consumer price indexes in all of the countries in the Central American region recorded year-on-year increases in the transport spending division.
According to a report from the Central American Monetary Council, in June of this year, Nicaragua was the country that reported the highest year-on-year increase in the price level of transportation services, registering an increase of 9.8% compared to the same month in 2018.
In the first six months of the year, the country received $725 million in remittances from abroad, which is a 9% increase compared to the same period in 2017.
The Central Bank of Nicaragua reported that remittances totaled 115.2 million dollars in June (US $111.1 million in June 2017), which meant an increase of 3.7 percent.
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