Costa Rica: Economic activity inches up in May
July 12, 2013
In May, economic activity increased 1.7% 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 1.6% recorded in April (previously reported: +3.1% year-on-year). The monthly expansion was mostly driven by growth in financial services and in the mining sector.
Compared to the previous month, economic activity dropped 0.03% in seasonally adjusted terms, following the revised 0.14% fall recorded in April (previously reported: -0.11% month-on-month). As s result of the weak monthly reading, the trend continues to point downwards, with annual average growth in economic activity slowing from 3.3% in April to 3.0% in May.