Panama: Economic activity growth loses pace in July
September 21, 2021
Economic activity increased 28.5% in year-on-year terms in July, which followed June's 32.9% increase. In addition, data from April was subject to a considerable upward revision for the second consecutive month. Notably, July’s downtick doesn’t necessarily represent a cooling of the economy as it was largely due to a fading base effect. Meanwhile, activities related to food production were among the growing sub-sectors. However, hotel services were down amid low tourist arrivals.
Meanwhile, the trend improved notably, with the annual average variation of economic activity coming in at plus 1.2%, contrasting June's minus 3.3%.
Author: Frederico Teixeira de Abreu, Junior Economist