Macroeconomic Forecast Costa Rica

BMI View: Costa Rica's expanded a whopping 5.1% in Q110, up from 2.9% in Q409 and -0.2% in Q309, however the magnitude of this rise can be attributed in large part to base effects, in our view. We expect the country's growth to slow down over the coming quarters, as inventory rebuilding comes to a halt and external demand from the US subsides throughout H210 and 2011. Therefore, we maintain out 2.4% real GDP growth forecast for both 2010 and 2011.

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