Costa Rica: Economic activity growth slides to 16-month low in August
October 10, 2014
In August, economic activity rose 2.8% 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 revised 3.1% expansion recorded in July (previously reported: +3.4% year-on-year) and marked the lowest growth since April 2013. Ten of the twelve components of the index registered deteriorations; financial intermediation, financial services and transportation tallied the fastest rates of expansion. The manufacturing industry contracted.
Compared to the previous month, economic activity rose 0.24%, which was slightly up from the 0.17% expansion recorded in July. Meanwhile, annual average growth in economic activity inched down from July’s 4.1% to 3.9% in August.