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Costa Rica growth to fall short of 4 pct in 2013 -central bank
June 18, 2013 / 6:38 PM / 4 years ago

Costa Rica growth to fall short of 4 pct in 2013 -central bank

SAN JOSE, Costa Rica, June 18 (Reuters) - Economic growth in Costa Rica this year will fall short of the 4 percent forecast issued previously by the central bank, hurt by a manufacturing slowdown, central bank President Rodrigo Bolanos said on Tuesday.

Bolanos told reporters that the bank could not yet offer a new forecast. He said the bank had discovered an error that had led to an overstatement of the manufacturing data that feeds into its economic activity index.

“(The discovery) showed economic activity was much lower than initially expected and will therefore have an impact on overall growth,” Bolanos said.

Economic growth in Costa Rica in 2012 was 4.6 percent.

The bank revised its monthly economic activity index to reflect growth of 2.1 percent for the January to April period this year, down from the 3.4 percent it had reported previously.

A revised estimate for economic growth will be ready in the coming weeks, Bolanos said.

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