Panama: Economic activity moderates in August
October 21, 2019
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) grew 3.2% over the same month a year prior in August, decelerating from the 3.6% expansion registered in July. Meanwhile, average annual growth in economic activity ticked down to 3.2% in August from 3.3% in July.
Weaker growth in August was the result of lower trade in the Colon Free Zone. On the other hand, growth dynamics in the transport, storage and communications sector—which includes activity in the Panama Canal and national ports—remained favorable due to expanded Panama Canal operations, while financial intermediation; public administration; and construction also registered solid performances. In addition, mining and quarrying and agricultural output also improved.
Author: Lindsey Ice, Economist