Costa Rica: Economic activity growth decelerates to 17-month low in September
November 11, 2014
In September, economic activity rose 3.0% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure came in below the 3.4% expansion recorded in August and marked the lowest growth rate since April of last year. Seven of the 12 components of the index recorded lower growth rates than in the previous month. While financial intermediation, financial services and transportation tallied the fastest rates of expansion, the electricity and water industry as well as the manufacturing industry recorded the smallest gains.
Compared to the previous month, economic activity rose a mild 0.09%, which was slightly down from the 0.18% expansion recorded in August. Meanwhile, annual average growth in economic activity fell from August’s 4.3% to 4.1% in September, the worst result since the beginning of this year.