Panama Economic Activity August 2021

Panama

Panama: Economic activity growth eases in August

October 21, 2021

Economic activity expanded 26.4% year-on-year in August (July: +35.9% yoy). Looking at the details of the release, food-related manufacturing, financial intermediation and gambling-related activities grew in the month.

Meanwhile, the trend improved sizably, with the annual average growth of economic activity coming in at plus 6.2%, up from July's 1.8% reading.

Despite this month’s slowdown, a significant upward revision of July’s index may signal the economy will log faster growth in annual terms than previously expected in Q3.

FocusEconomics Consensus Forecast panelists see the economy expanding 11.0% in 2021, which is unchanged from last month’s forecast. The panel expects GDP to grow 6.4% in 2022, which is also unchanged from the previous month’s projection.


Author:, Junior Economist

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Panama Economic Activity August 2021 0

Note: Year-on-year changes and annual average variation of economic activity in %.
Source: Instituto Nacional de Estadística y Censo.


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