Costa Rica: Economic activity decelerates in February
April 10, 2012
In February, economic activity expanded 5.2% over the same month last year, according to the monthly index of economic activity (IMAE, indice Mensual de Actividad Economica). The reading was below the revised 5.7% expansion observed in January (previously reported: +6.4% year-on-year). The slowdown reflected a moderation in the manufacturing sector, although the pace of growth remains robust. On a monthly basis, economic activity was flat in seasonally adjusted terms, which followed the subdued 0.10% expansion recorded in January. In spite of the monthly deceleration, the trend continues to improve, with annual average economic growth rising from 4.4% in January to 4.7%, the highest level since November 2010.