An improvement in economic activity has been observed in the second trimester. From April to June, the Monthly Index of Economic Activity (IMAE), recorded an annualized growth rate of 5.9%, while it had contracted at an annualized pace of -0.9% in the first trimester. In the first semester of the year, economic activity diminished 3.9% when compared to the same period of last year. In June, IMAE recorded a monthly increase of 0.34%, while the variation for the last 12 months was 2.2%, lower than the 2.8% drop presented in May. The lowest yearly change was recorded in February, at -5.1%.
Growing fiscal deficit could increase the Treasury's participation in the securities market.
Even though economic activity dropped at a lower pace, Costa Rica's economy is still in recession.
Moderation in the contraction rate of the Monthly Economic Activity Index (IMAE) - Economic activity in Costa Rica is still contracting when compared to last year's levels, even though the pace has reduced in the last months. In May, IMAE registered a drop of 3.61% when compared to May 2008, but the largest 12-month drop of this indicator was recorded in February, at 5.5%....
In the second quarter of the year, the IMAE index grew at an annualized rate of 5.9%. In the first quarter it had dropped 0.9%.
In June the Monthly Economic Activity Index (IMAE) grew 0.34%. For the past 12 months it contracted 2.2%, less than the 2.8% drop registered in May. The highest 12 month contraction was -5.1%, recorded in February 2009.
Inflation deceleration and Risks to economic recovery.
The quarterly report from the Executive Secretary of the Central American Monetary Council (SECMCA) focuses on the region's inflation and recovery prospects.
Inflation, measured by year-on-year change in consumer prices, slowed in the second quarter of 2010 to 4.9%, compared to 2.9% in June 2009. This level is within the target limits set by the region's central banks.
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