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A Slowdown for Costa Rica

Article Summary:

Costa Rica’s economy is slowing down as was warned by the Central Bank, who continues to state that any economic growth the country will see in the coming months will most likely be driven by domestic demand instead of external demand.

Photo Credit: El Financierocr

Original Article Text From El Financierocr via Google Translate :

Economy slowed and grew 3.2% in August

The Monthly Economic Activity Index (MIEA) showed a variation of internanual cyclical trend of 3.2% last July, and an example of a brake on the growth of the national economy, and has even recorded a much lower figure expected for the end of the year by the Central Bank (4.8%). By mistake, EF published today at 5:00 PM, the data corresponding to the reading of the previous July IMAE.

The data released today by the Monetary Authority show that August was less dynamic month so far this year , because in July the figure was 4.0%.

By industry, the sector business services takes the lead , the most dynamic of July, growing at a rate of 10.01 %, followed by financial intermediation services, which were up 8.19% .

By contrast, the sector remains more depressed farm that grows just 1.55%, followed by the manufacturing industry 1.61%, noted for a tailspin since last April registradba dynamism 13% . Also the other sectors (activities linked to the domestic economy) which grew by 2.67 %.

The slowdown in economic activity towards the end of the year had been warned by the Central Bank in the Macroeconomic Program Review 2012-2013, in which he indicated that growth in the coming months would be more driven by domestic demand than external.

Link to Original Article:

From El Financierocr

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