Monday, 30 November 2020

Costa Rica Economy Slows Dow Due to Less Domestic Demand

BCCRQCOSTARICA – The Central Bank (Banco Central de Costa Rica)  has confirmed the decline in domestic demand mainly in agriculture, trade, hotels and restaurants, and transport and storage.

From a statement issued by the Central Bank of Costa Rica (BCCR):

The country’s economic activity, measured by the cycle trend of the Monthly Index of Economic Activity (IMAE), recorded a variation of 2.9% in January 2015, 0.4% lower than that observed a year earlier when production grew by 3.3% and 0.7% lower than the average growth of the indicator in 2014 (3.5%).

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This slowdown was associated mainly to slower growth in the production of goods for export and the decline in domestic demand mainly from the following industries: agriculture; trade, hotels and restaurants; transport and storage.

The manufacturing industry since August 2014 has slowed mainly due to the transfer of assembly and manufacturing operations of the company Intel to Asia. This was partially offset by the good performance which continued to be experienced by some services.

Read here the monthly report on the economic situation for February 2015.

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