Friday, November 20, 2009

Costa Rica's economic activity shows hopeful signs

By Adam Williams
Tico Times Staff

The Monthly Economic Activity Index (IMAE) for September showed signs that the Costa Rican economy has begun to recover. Though the economy contracted 0.1 percent, the miniscule decrease in activity is a significant improvement from the past year's monthly average decrease of 3.6 percent.

The improved outlook was based on a better showing by the manufacturing sector, which reported a small 1.1 percent decrease in the annual rate during September. The improvement in manufacturing came thanks to increased exports by businesses located in free-trade zones.

Other increases in economic activity during the month of September included sales of electric energy and hotel revenues, which sparked by improved tourist spending.

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