Panama: Economic activity continues to grow robustly in September
November 24, 2011
In September, the economy expanded 8.5% over the same month last year, which was slightly below the 8.7% increase in August, according to the monthly indicator of economic activity (IMAE, indice Mensual de Actividad Economica). The construction and transportation sectors had the biggest impact on the expansion. On a monthly basis, economic activity increased 0.45% in seasonally adjusted terms, which exceeded August's 0.22% rise (previously reported: +0.15% month-on-month). Annual average growth in economic activity ticked up from 8.3% in August to 8.6% in September, continuing the upward trend. Growth in economic activity should remain strong going forward, fuelled by ongoing investment in a project that aims to double the capacity of the Panama Canal by 2014.