Costa Rica: Growth in economic activity continues to slow in March
May 14, 2015
In March, economic activity expanded 1.7% 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 2.0% increase tallied in February, marked the eleventh month of deceleration and the lowest reading in almost two years. Three of the twelve components of the index contracted, with agriculture and industrial manufacturing incurring the biggest losses.
Compared to the previous month, economic activity expanded 0.12%, contrasting in the 0.01% contraction recorded in February (previously reported: +0.10% month-on-month). Meanwhile, annual average growth in economic activity fell from February’s 3.3% to 3.1%, the lowest rate since June 2011.
Author: Robert Hill, Economist