Costa Rican growth slows to 2.4 pct in second quarter
SAN JOSE, Sept 30 (Reuters) - Costa Rica's economy grew 2.4 percent in the second quarter compared with the same period last year, the central bank said on Wednesday, marking its sixth consecutive quarterly slowdown.
The economy has faced headwinds, such as a move by chipmaker Intel Corp, a major exporter from the Central American tourist haven, to shrink its local operations last year. Private consumption was stable and investment staged a modest recovery.
The government expects the economy to expand by 4 percent this year, up from 3.5 percent in 2014. However, the central bank cut its 2015 growth forecast to 2.8 percent in July due to weaker agricultural production and stagnant public spending. (Reporting by Enrique Pretel; Editing by Lisa Shumaker)
© Thomson Reuters 2016 All rights reserved.