Costa Rica: Growth in economic activity decelerates slightly in August
October 12, 2016
In August, economic activity slowed down slightly to a 4.5% increase from the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). August’s figure came in below the revised 4.8% increase recorded in July (previously reported: +5.1% year-on-year). In August, the strongest improvements were recorded in the services sector, with the financial sector making the most significant contribution to growth again. The manufacturing and transport sectors also picked up in August.
Compared to the previous month, economic activity expanded 0.27% in August, slightly above the revised 0.24% increase recorded in July (previously reported: + 0.37% month-on-month). Meanwhile, the overall trend improved as annual average growth in economic activity rose from 4.1% in July to 4.3% in August.
Author: Andrea Vetrugno, Economist