Costa Rica: Economic activity improves in February
April 10, 2013
In February, economic activity increased 3.6% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure was slightly above the revised 3.5% rise recorded in January (previously reported: +3.3% year-on-year). The expansion was mostly driven by growth in the manufacturing sector and financial services.
Compared to the previous month, economic activity added 0.52% in seasonally adjusted terms, virtually in line with the revised 0.50% increase recorded in January (previously reported: +0.53% month-on-month).
According to the Macroeconomic Programme 2013-2014, the Central Bank sees the economy expanding 4.0% this year as well as in 2014. FocusEconomics Consensus Forecast panellists see growth at 4.0% this year, which is down 0.1 percentage points from last month's projection. For 2014, participants see economic growth at 4.5%.