Panama: Economic activity growth slows in March
Economic activity increased 12.6% in year-on-year terms in March, which represents a slight slowdown from February’s 13.3% increase. The overall upturn was broad-based, with Panama Statistics highlighting the easing impact of the pandemic as the primary driver for the recovery, with sectors such as retail, construction, hotels and restaurants and transport performing well.
Meanwhile, the trend improved sizably, with the annual average growth of economic activity coming in at 22.3%, up from February’s 21.2% reading. That said, economic activity growth is expected to cool going forward, amid a waning base effect and rising external headwinds.