Costa Rica raises growth forecast to 4.9 percent

Costa Rica's central bank raised its 2012 economic growth forecast to 4.8 percent from a previous estimate of 3.8 percent.

The increase from the forecast made in January is mostly due to stronger-than-expected activity in the manufacturing sector, said Rodrigo Bolaños, president of the central bank.

"This is due to growth in demand in both the external and internal markets, but we forecast a slowdown for the second half of 2012," he said.

Source: Reuters