Panama Economic Activity June 2016


Economic activity loses steam in June

In June, the monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) decelerated from May’s over-one-year high of 5.2% to 4.1%. According to the National Comptroller’s Office (Contraloría General de la República), mining and quarrying, water and electricity as well as construction were the components that reported the strongest expansions while fishing and recreation and leisure services contracted.

On a month-on-month basis, growth in economic activity in June slowed from the 0.96% expansion observed in May to 0.39% in June. Meanwhile, annual average growth in economic activity remained steady in June at the 4.2% reading tallied in May.

FocusEconomics Consensus Forecast panelists project that the economy will grow 5.8% in 2016, which is unchanged from last month’s forecast. The panel expects GDP to expand 6.0% in 2017.

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Panama Economic Activity Chart

Panama Economic Activity June 2016 2

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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