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Panama Economic Activity October 2020

Panama: Decline in economic activity softens in October, but remains marked

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.

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