Panama: Economic activity grows at record pace in May
July 21, 2021
Economic activity rose 20.8% in year-on-year terms in May, which was above April's 12.1% increase. The result marked the best on record. In detail, trade-related activity performed well, amid growth in the retail sub-sector. In addition, food manufacturing also grew, and the transportation, storage and communication sub-sector improved.
Meanwhile, the trend improved, with the annual average variation of economic activity coming in at minus 11.3% in May, up from April's minus 15.6% reading.
Author: Frederico Teixeira de Abreu, Junior Economist