The monthly index of economic activity (IMAE) from May showed a year-on-year growth of 4.4%, encouraged mainly by an acceleration in the construction sector.
The activity showed an inter-annual variation of 13.3%, basically due to the recovery of private construction (15.9%), due to the increase in the construction of works for commercial activity and industrial warehouses. The construction of parking lots and the infrastructure works for urbanizations also influenced the index, although to a lesser extent.
On the other hand, public construction grew 0.1%, particularly due to the development of educational infrastructure of the Ministry of Public Education, which was compensated by the decrease in the execution of works in the Container Terminal of Moín and the trust of the University of Costa Rica.
The manufacturing industry grew 3.5%, based on the greater external demand for medical devices (mainly catheters, transfusion equipment, breast implants, eye prostheses, and syringes) that increased 28% in May and, to a lesser extent, palm, iron, and steel manufactures.
Commercial activity grew 2%, due to the greater commercialization of food products, household appliances, as well as textile products. The commercialization of the latter was favored by the proximity of the World Cup.
The IMAE is estimated by the Central Bank of Costa Rica, and the figures are published with a lag of two months.