Costa Rica: Growth in economic activity decelerates slightly in June
August 11, 2016
In June, economic activity slowed down slightly to a 4.9% increase over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). June’s figure came in below the revised 5.0% increase recorded in May (previously reported: +5.3% year-on-year). In June, the strongest improvements were recorded in the service sector, among which the financial sector was the one contributing most to growth. Moreover, the manufacturing and agricultural sectors picked up in June.
Compared to the previous month, economic activity expanded 0.27% in June, which came in above the revised 0.37% increase recorded in May (previously reported: + 0.36% month-on-month). Meanwhile, annual average growth in economic activity rose from 3.7% in May to 3.9% in June.
Author: Andrea Vetrugno, Economist