Panama Economic Activity August 2016

Panama

Panama: Economic activity in August edges up from July's seven-month low

In August, the monthly indicator for Panamanian economic activity (IMAE, Índice Mensual de Actividad Económica) accelerated from July’s seven-month low of 3.0% to 3.9%. According to the National Comptroller’s Office (Contraloría General de la República), mining and quarrying, construction and transportation were the components that reported the strongest expansions while manufacturing, commerce and fishing contracted.

On a month-on-month basis, growth in economic activity picked up from the 0.32% expansion observed in July to 0.53% in August. Meanwhile, annual average growth in economic activity remained stable in August at the 4.1% reading observed in July.

FocusEconomics Consensus Forecast panelists project that the economy will grow 5.7% in 2016, which is unchanged from last month’s forecast. The panel expects GDP to expand 5.9% in 2017, which is also unchanged from last month’s projections.


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Panama Economic Activity Chart


Panama Economic Activity August 2016

Note: Year-on-year changes and annual average variation of trend-cycle economic activity in %.
Source: National Comptroller’s Office and FocusEconomics calculations.


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