Costa Rica: Economic activity moderates in October
December 10, 2010
In October, economic activity increased 2.9% over the same month last year, according to the monthly index of economic activity (IMAE, indice Mensual de Actividad Economica). The reading was below the revised 3.4% expansion observed in September (previously reported: +3.1% year-on-year) and reflected contractions in the manufacturing and construction sectors, which partially offset improvements in the commerce and hotels sectors. On a monthly basis, economic activity inched up 0.1% in seasonally adjusted terms over the previous month, which was down from the 0.2% expansion recorded in September. Meanwhile, the trend continues to inch up, as annual average economic activity growth rose from 4.6% in September to 4.7% in October, the highest level since October 2008.