The Costa Rican economy is still growing but, according to the Central Bank’s Monthly Index of Economic Activity (IMAE), it appears to be slowing down.
The IMAE, which is calculated by collecting data and surveys from various economic sectors and around 800 national businesses, reported that the economy grew 3.7 percent in May in comparison to the same month in 2009. That’s the slowest growth since October 2009, when the index rose just 2.1 percent.
Since November, activity had risen at least 4 percent, peaking at 6.1 percent in February. The index reported growth at 4.6 percent in April.
Of the sectors measured, agriculture, hotels, transportation and the services industry all grew. Services increased more than 7 percent.
The construction industry reported the biggest losses in the month, as production fell 7.15 percent from April.