Economic Activity Decreases by 6.2% in Costa Rica

Production fell in March, with manufacturing and hotels registering the greatest drop.

Tuesday, May 12, 2009

According to a Central Bank report, the economic activity index (IMAE) fell for the sixth consecutive month, some 6.2% with respect to the same period in 2008.

Patricia Leitón wrote in La Nación website: "The IMAE estimates the variation in the physical quantity of goods and services produced by businesses and individuals within the country every month. To elaborate, the Central Bank surveys nearly 800 companies, among other sources."

More on this topic

Costa Rica: Economic Activity Could be Better

December 2010

The Monthly Economic Activity Index, which reflects the performance of the economy, showed minimal growth during October.

Its value from the previous month increased 0.07 percentage points. In turn, the annual change (October 2009 - October 2010) shows the weakest growth this year, 2.9%.

Costa Rica: Economic Slowdown Continues

August 2010

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.

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.

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.

Costa Rica: Smaller Drop in Economic Activity

June 2009

In the month of April, IMAE reported a drop of 4.9%, which reflects less deceleration than that observed in the months of February and March.

With the data from the month of April, there has now been seven months of negative growth.

Édgar Delgado in his article in writes: "Upon reviewing the figures from the economic sector, it is observed that the fall continues to be significant for hotels (-21.1%), the manufacturing industry (-13.6%), agriculture (-6.6%), construction (-5.8%), commerce (-5.5%) and electricity and water (-3.1%)."

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