Costa Rica Economic Activity

Costa Rica

Economic activity decelerates in August

In August, economic activity expanded 3.7% over the same month the year before, according to the monthly index of economic activity (IMAE, indice Mensual de Actividad Economica). The reading was below the revised 4.0% expansion observed in July (previously reported: +4.2% year-on-year). The lower print reflected decelerations in the commerce and hotels sectors. On a monthly basis, economic activity rose 0.06% in seasonally adjusted terms, which was well below the 0.15% expansion recorded in July. However, the trend remained unchanged, as annual average economic growth expanded at July's 3.7% pace. In the July revision to the Macroeconomic Programme 2011-12, the Central Bank sees economic growth expanding 4.5% this year, and 4.7% in 2012


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