Costa Rica: Growth in economic activity decelerates in October
December 12, 2016
In October, economic activity decelerated to a 3.9% increase from the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). October’s figure was below the 4.4% increase recorded in September. In October, the strongest improvements were recorded in the services sector, with the financial sector making the most significant contribution to growth. The manufacturing and information and communication sectors also picked up in October.
Compared to the previous month, economic activity expanded a meagre 0.10% in October, below the 0.40% increase recorded in September. Meanwhile, the overall trend worsened slightly as annual average growth in economic activity slowed down from 4.5% in September to 4.3% in October.
Author: Andrea Vetrugno, Economist