Production Drops 5.1% in February 2009 Compared to February 2008

For the fifth month in a row, according to the Monthly Economic Activity Indicator Índice Mensual de Actividad Económica (IMAE) which surveys 800 companies amongst other sources, the Costa Rican economy contracted, with February 2008 production 5.1% lower than February 2008

The main sectors showing drops in production are manufacturing, hotels mainly in Guanacaste, agriculture (primarily due to weather problems), commerce and construction. Other sectors continue to grow but at a slower pace than last year.

However the number of employees insured by the Caja Costarricense de Seguro Social (the Costa Rica Social Security system) rose by 3.2% in comparison to February 2008.

Our thanks to our friends at La Nación – Costa Rica’s largest Spanish circulation newspaper for their permission use ther graphic.

Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.