Costa Rica: Economic activity slows to two year low
June 12, 2013
In April, economic activity increased 3.1% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure was slightly below the revised 3.4% recorded in March (previously reported: +4.3% year-on-year) and marks the lowest rate in two years. The monthly expansion was mostly driven by growth in financial services and in the mining sector.
Compared to the previous month, economic activity dropped 0.11% in seasonally adjusted terms, in contrast with the revised 0.14% rise recorded in March (previously reported: +0.70% month-on-month). Following the weaker monthly result, the trend continues to point downwards, with annual average growth in economic activity slowing from 4.0% in March to 3.8% in April.