Costa Rica: Growth in economic activity continues to slow in April
June 11, 2015
In April, economic activity expanded 1.1% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure, which was below the 1.5% increase tallied in March, marked the 12th month of deceleration and the lowest reading since August 2009. As in the previous month, agriculture and manufacturing registered the most significant contractions, while mining and the financial services sectors observed the strongest growth.
Compared to the previous month, economic activity expanded 0.04%, slightly up from the 0.01% increase recorded in March (previously reported: +0.12% month-on-month). Meanwhile, annual average growth in economic activity fell from March’s 3.1% to 2.8%, the lowest rate since February 2010.
Author: Robert Hill, Economist