Costa Rica: Economic activity speeds in March reaching eight-month high
May 13, 2013
In March, economic activity increased 4.3% over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure was well above the revised 3.9% rise recorded in February (previously reported: +3.6% year-on-year) and marks the fastest rate in eight months. The expansion was mostly driven by growth in the manufacturing sector and financial services.
Compared to the previous month, economic activity added 0.69% in seasonally adjusted terms, virtually in line with the revised 0.70% increase recorded in February (previously reported: +0.52% month-on-month). Despite the stronger March result, the trend continues to point downwards, with annual average growth in economic activity slowing from 4.5% in February to 4.3% in March.