Panama: Economic activity gains pace
October 24, 2011
In August, the economy expanded 7.9% over the same month last year, which was above the 7.5% increase in July, according to the monthly indicator of economic activity (IMAE, indice Mensual de Actividad Economica). The transportation, as well as storage and communications sectors, had the biggest impact on the monthly reading. On a monthly basis, economic activity increased 0.15% over the previous month in seasonally adjusted terms, which exceeded July's flat reading (previously reported: -0.04% month-on-month). However, annual average growth in economic activity inched down from 8.3% in July to 8.2% in August.