Costa Rica: Level of confidence in the economy by businesses drops
Inflationary pressures, increases in the exchange rate, credit restrictions and higher energy prices are a few of the causes.
Wednesday, August 6, 2008
Although the majority of Costa Rican businessmen continue to be optimistic about the direction the country is heading, the quarterly poll "Pulso Empresarial" - or Business Pulse in English - showed a 10% drop in the confidence level in comparison to previous polls.
The business confidence index calculated by the "Business Pulse" survey reached its lowest level in the last two years, with negativity being felt in the services and construction sectors in particular.
Companies remain cautious on a potential economic recovery.
The study is related to the quarterly survey "Business Pulse" by the Costa Rican Union of Chambers and Associations of the Private Business Sector.
The Confidence index (from Banguat) which measures the perception of the economy and the business environment fell 68.1% in 12 months.
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