Costa Rica: Growth in economic activity hits nearly-two-year low in February
April 13, 2015
In February, economic activity rose 2.2% 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 2.5% increase tallied in January, marked the tenth month of deceleration and the lowest reading in almost two years. Seven of the twelve components of the index recorded lower growth rates than in the previous month. The electricity and water component saw the largest gains. Conversely, financial intermediation services decelerated significantly and the agriculture, forestry and fishing industries contracted.
Compared to the previous month, economic activity expanded 0.10%, contrasting in the 0.05% contraction recorded in January. Meanwhile, annual average growth in economic activity fell from January’s 3.4% to 3.3%, the lowest rate in 17 months.
Author: Robert Hill, Economist