Costa Rica: Growth in economic activity ticks up in June
August 11, 2015
In June, economic activity expanded 1.5% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). June’s figure, as well as the revised 1.4% increase tallied in May (previously reported: +1.3% year-over-year), indicate an end to the 12-month streak of no expansion. June’s gains were due to a positive contribution from the service sector, including transport, storage and communication, trade and financial intermediation.
Compared to the previous month, economic activity expanded 0.22%, slightly up from the 0.21% increase recorded in May (previously reported: +0.23% month-on-month), marking the highest figure in over a year. Meanwhile, annual average growth in economic activity fell from May’s 2.3% to 2.1%, the lowest rate since April 2010.
Author: Robert Hill, Economist