Costa Rica: Economic activity accelerates in April to six-month high
May 11, 2014
In April, economic activity increased 4.6% over the same month last year according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure overshoot the revised 3.3% expansion recorded in March (previously reported: +3.4%) and represented the highest growth rate since October 2013. Seven of the twelve components of the index registered improvements; hotels, construction and agriculture, forestry and fishery recorded the largest rates of expansion. Conversely, the financial intermediation services category contracted at the fastest pace.
Compared to the previous month, economic activity rose 0.49%, which was up from the 0.28% expansion recorded in March. Meanwhile, annual average growth in economic activity rose from March’s 3.8% to 4.0% in April, which marked the highest growth rate in the past 14 months.