Back

Weekly Report - 19 March 2009 (ISSN 1741-7422)

TRACKING TRENDS

COSTA RICA | Slowdown. The economy contracted 4.5% year-on-year in January 2009, the sharpest slowdown in 17 years, according to the central bank. The manufacturing sector was the worst hit (-17.5% year-on-year in January); followed by the hotel industry (-8.6%); agriculture (-4%) and trade (-3%). The bank singled out the decline in activity in the free zones - particularly the electronic and advanced technology sectors - as cause for concern, adding that in January, 67% of companies registered a fall in production. Real annual GDP growth was 2.9% in 2008 and the bank is projecting growth of 2.2% for this year.

End of preview - This article contains approximately 297 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

Back