Costa Rica: Growth in economic activity decelerates slightly in July
September 12, 2016
In July, economic activity slowed down slightly to a 5.1% increase over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). July’s figure came in below the revised 5.2% increase recorded in June (previously reported: +4.9% year-on-year). In July, the strongest improvements were recorded in the services sector, with the financial sector making the most significant contribution to growth. Moreover, the manufacturing and agricultural sectors picked up in July.
Compared to the previous month, economic activity expanded 0.37% in July, which came in slightly above the revised 0.36% increase recorded in June (previously reported: + 0.27% month-on-month). Meanwhile, the overall trend improved as annual average growth in economic activity rose from 3.9% in June to 4.2% in July.
Author: Andrea Vetrugno, Economist