The economy continues to gain momentum despite slowing growth in the United States. In the second quarter, the economy expanded 11.4% over the same quarter the year before, faster than the 9.3% rise registered in the first quarter. In fact, the pace of economic expansion was the fastest since Q2 2008 when economic growth reached its pre-crisis peak of 13.1%. The acceleration over the previous period reflected faster growth in services. In particular, commerce picked up and accelerated from a 7.8% expansion in the first quarter to a 15.2% increase in the second. Transport and logistics remained stable and added 15.1% in the second quarter (Q1: +15.2% year-on-year). Moreover, finance grew 12.9% in the second quarter (Q1: +7.8% yoy), while construction added 19.2% (Q1: +15.6% yoy). As a result, the services sector expanded 14.4% in the second quarter following an 11.3% rise recorded in the first. Manufacturing added 3.5% in the second quarter (Q1: +2.8% yoy) while agriculture rebounded from a 0.7% contraction in the first quarter to a 5.7% expansion in the second. The government expects the economy to grow 9.0% in 2011 and 7.0% in 2012.
Economic growth expands at fastest pace in three years in Q2
September 15, 2011
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Panama Economic News
October 13, 2016
Consumer prices in a month-on-month comparison increased 0.2% in September after a flat reading in August.
September 27, 2016
In July, the monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) decelerated from 4.1% in June to a seven-month low of 3.0% in July.
September 16, 2016
The Panamanian economy gained traction in the second quarter of the year.
September 13, 2016
In August, consumer prices were flat, down from July’s 0.10% print.
August 25, 2016
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%.