Costa Rica: Economic activity inches up in March
May 11, 2012
In March, economic activity expanded 6.9% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The reading was an inch above the revised 6.8% expansion observed in February (previously reported: +5.2% year-on-year) and reflected strong expansions in the manufacturing as well as in the transport sectors. On a monthly basis, economic activity expanded 0.54% in seasonally adjusted terms, which followed the 0.41% increase recorded in February. As a result of the monthly reading, the trend continues to improve, with annual average economic growth rising from 5.0% in February to 5.4%, the highest level since July 2008.