COSTA RICA STAR FINANCIAL NEWS BRIEF

Costa Rica’s economy grew by 4.9 percent in the 12 months leading up to January, according to the latest data of the Monthly Economic Activity Index (IMAE), a rolling monthly measurement of annual (year on year) economic growth produced by Costa Rica’s Central Bank.

January also marks the seventh consecutive month of economic growth in Costa Rica, which began to recover in July of last year, led by growth in the service industry and a recovery in manufacturing.

Nine of the 15 industries that comprise the indicator showed positive acceleration, while the remaining held relatively steady.

The manufacturing sector grew 6.7 percent year-on-year as of January, versus negative growth of -0.1 percent a year earlier.

The insurance and financial sector registered growth of 10 percent, followed by back office services, which registered year-on-year growth of 9.7 percent as of January.