The monthly Index of Economic Activity (IMAE) for September showed signs that the Costa Rican economy is recovering. Though the index shows that 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 overall improvement in economic activity was based in an improved showing by the manufacturing sector, which reported a small 1.1 percent decrease in the annual rate during September. The improvement in manufacturing was attributed 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, hotel revenues, which was sparked by improved tourist spending.