The economy of Costa Rica shrank 0.4 percent year-on-year in May 2019, after expanding a downwardly revised 1 percent in the previous month. It was the first contraction in economic activity since February 2013, as output declined in further in construction (-15.6 percent from -11.9 percent in April); agriculture, forestry & fishing (-8.8 percent from -7.6 percent) and trade (-1.4 percent from -0.5 percent) and mining (-9.3 percent from -4.9 percent). Also, growth slowed in manufacturing (0.8 percent from 4.7 percent); transportation & storage (2.1 percent from 2.7 percent); financial activities & insurance (2.3 percent from 5.1 percent); professional activities (2.7 percent from 3.6 percent); and information & communication (4.2 percent from 5.9 percent). Leading Economic Index in Costa Rica averaged 3.86 percent from 1992 until 2019, reaching an all time high of 14.80 percent in March of 1992 and a record low of -5.90 percent in February of 2009.
Leading Economic Index in Costa Rica is expected to be 3.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Costa Rica to stand at 3.50 in 12 months time. In the long-term, the Costa Rica IMAE is projected to trend around 3.60 percent in 2020, according to our econometric models.