Costa Rica: Economic Slowdown Continues

The Monthly Index of Economic Activity (IMAE) shows growth of 2.96% to June, the fourth consecutive month in which year-on-year growth has slowed.

Thursday, August 12, 2010

From the maximum year-on-year rate of 6.09% reached in February, the pace of Costa Rica's growth has slipped by around 51.4% to 2.96% in June, completing a somewhat bleak quarter.

Sector indicators show that it is manufacturing that has suffered most with growth sliding from 10.85% in the first quarter to 3.30% in this. As seen in the USA, it is thought that growth seen earlier in the year was partly due to inventory restocking that was not followed by a sustained increase in demand.

Construction continues to shrink with June's 6.75% drop making 17 consecutive months of contraction. Trade and service industries continue to do well while agriculture is relatively stable with average montly growth of approximately 5.40% for the first half of the year.

More on this topic

Economic Activity in Costa Rica Stalled

March 2011

Costa Rica's economic activity continues to grow at very low rates.

An Aldesa analysis on the subject indicates that during February, the economy grew just 0.09%, resulting in a variation (February 2010 - February 2011) of 2.4%, according to the Monthly Economic Activity Index (MIEA).

Economic Status of Costa Rica, August 2010

August 2010

Aldesa highlights a significant weakening in economic activity, a downward trend in inflation and a growing fiscal deficit.

Significant Weakening in Costa Rica's IMAE

The Monthly Index of Economic Activity (IMAE in Spanish) for June closed 2.96% up year-on-year. After reaching a high of 6.09% in February growth has slowed.

Slowdown in Recovery for Several Sectors

July 2010

After completing inventory restocking, the activity of Costa Rican manufacturers shows a slowing trend due to lack of demand.

Investment strategy analysts from ALDESA report that the Monthly Index of Economic Activity (IMAE) for May shows a 3.74% increase year-on-year. The data from the deseasonalized series indicate that economic activity peaked in March before slowing in subsequent months.

Costa Rica: Economic Activity Keeps Falling

June 2010

The monthly economic activity index, known for its Spanish initials as IMAE, keeps trending down.

On April, the index recorded a year-on-year change of 4.13%, lower than in march (5.83%). This marks three consecutive months of decreases.

So far, the observed economic cycle seems to be normal: a “rebound stage”, marked by fast growth, which then normalizes and stabilizes, reaching long term sustainability.

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