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Data error prompts Costa Rica to review growth

Wednesday, June 19, 2013

Costa Rica’s government unexpectedly revised its economic growth data for the first four months of this year after it found that export figures were incorrectly reported.

Expansion in the period was revised to 2.1 percent from 3.4 percent, said Central Bank president Rodrigo Bolaños.

Exports from free-trade zone businesses were incorrectly entered into the central bank’s system last week, which resulted in the inflated growth figures, he said.

Source: Bloomberg