The article analyzes fluctuations in Costa Rica’s construction sector, highlighting a slowdown in public works driven by reduced execution of road and border projects. Although the Central Bank’s index shows growth, this primarily reflects the completion of projects carried over from previous years, offering a view of supply rather than current dynamism. Meanwhile, data from the National Institute of Statistics and Censuses (INEC) reveal a general contraction in the total volume of construction work and a decline in the approval of new housing units, with uneven performance across provinces. While some regions experience significant growth, others, such as Heredia and San José, record substantial reductions, underscoring divergent local demand and an overall downward trend in the projected square footage for residential construction. This distinction is crucial for open data initiatives, as it compares opposing methodologies: one based on actual physical progress (supply) and the other on approved municipal permits (demand). Understanding these methodological differences enables data users to develop more accurate indicators, avoiding statistical misinterpretations when combining sources that measure different aspects of the same economic reality.
Source:Published on 2023-11-21