Costa Rica's growth slows.(Brief article)

In an undated report posted on the website of Central America Today, a project of the University of San Pedro Sula (Honduras), the average growth rate of Costa Rica's Index of Economic Activity was registered at 6.7 percent. This was 1.9 percent lower than the annual growth rate of 8.6 percent for all of 2006.

Imports to Costa Rica for pharmaceuticals and vehicles increased 9.0 percent through August 2007. The comparison was with the same period in 2006. The solid showing of imports in these two product categories is an indication of relatively strong consumer spending.

The International Monetary Fund (IMF), in its August 2007 forecast, said that the economy of Costa Rica would expand 6.0 percent in 2007. This compares with an increase in GDP of 7.9 percent in 2006. The slowing of the economy of the United States (US) is the likely cause of the sharp drop. The US is a major trading partner. The IMF says that for 2008 GDP growth will decline further to 5.0 percent.

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