Panama: Decline in economic activity softens in October, but remains marked
December 22, 2020
Economic activity slid 17.0% in October (September: -22.3% yoy). October's print marked the smallest decline since March. The uptick came amid a recovering transportation sector, as Panama Canal crossings data improved. Moreover, the easing of domestic restrictions likely also played a role.
Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 14.7%, down from September's minus 13.0% reading.
Author: Frederico Teixeira de Abreu, Junior Economist