Business confidence fell 2% during the last quarter of 2013 when compared with the same period last year, reflecting a stagnant productive sector in the country since mid-2012.
The data comes from the last survey “Business Pulse” by the Costa Rican Union of Chambers and Associations of Private Enterprises (Uccaep) and presented the November 8th.
According to the survey, for the last three months of the year, the Business Confidence Index (IEC) stood at 6.2 points from a maximum of 10. This indicator has not registered any increase for all of 2013.
“The indicator closes a full year of declines and are the sectors of agriculture, construction and industrial, the showing less optimism for the end of the year,” the report states.
For the Chamber, the need for improvement by the government in areas such as legal certainty, procedures and infrastructure, would increase competitiveness and regain business confidence nationwide.
Costa Rica improved seven places in the last year according to the latest Doing Business 2014 ranking, placing at position 102 out of 185 countries, while a significant improvement it still indicates that much remains to be done to improve the business climate and confidence.
The survey data was based responses from 494 entrepreneurs, during the first two weeks of October 2013.
Costa Rica Business News