March Economic Activity Up Nearly 7%
- Details
- Category: The Nation
- Published on Tuesday, May 15 2012 01:47
- Written by Rod Hughes
- Hits: 335
So far, so good, say economists, checking the figures. The monthly economic activity index shows an upturn of 6.83% in March over the same month in 2011, the Central Bank reported this week.
Production is up in all sectors, from microprocessors to carrots to services and health care, the report shows, The index excludes irregular factors.
One robust indicator of economic health was the 15% rise in manufacturing over the same month last year. But that was not the only factor in the increase -- call centers, for example, rose 12%.
Financial and insurance activity also increased a healthy 8% over last year.
Whether the increase will be maintained is, of course, a point of some concern, especially respecting exports to Europe. The European Union still shows economic insecurity.
Although much attention has focused on Greece (which is a minor factor in Costa Rican exports), concern remains high for Spain whose unemployment is above 25% and other large economies.
Countries with high debts such as France and Germany seem to be pulling in opposite directions, Germany urging austerity and France electing a Socialist president who promises to relieve the restraints a bit.
Demonstrations continue to spring up in European nations in reaction to austerity measures and stability of these ancient nations is a worry. Few care to predict where this is leading but its effects of the world economic climate could be decisive later this year.
