Panama: Economic activity in July slows to seven-month low
September 27, 2016
In July, the monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) decelerated from 4.1% in June to a seven-month low of 3.0% in July. According to the National Comptroller’s Office (Contraloría General de la República), mining and quarrying, construction and transportation were the components that reported the strongest expansions while manufacturing industry, commerce and fishing contracted.
On a month-on-month basis, growth in economic activity in July picked up from the 0.22% expansion observed in June to 0.32% in July. Meanwhile, annual average growth in economic activity inched down from 4.2% in June to 4.1% in July.