Panama Economic Activity June 2019

Panama

Panama: Economic activity picks up in June

August 21, 2019

The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) grew 2.9% over the same month a year prior in June, accelerating from the 2.4% expansion registered in May.

Increased economic activity in June was driven by stronger growth in the transport, storage and communications sector—which includes activity in the Panama Canal and national ports. In addition, the mining and quarrying; financial intermediation; public administration; and gas and electricity supply sectors also logged favorable growth in the month. On the other hand, construction and trade weakened in June.

On a month-on-month, seasonally-adjusted basis, economic activity recovered 0.4% in June from the 2.5% contraction logged in May. Meanwhile, average annual growth in economic activity was stable at 3.2% in June.

FocusEconomics Consensus Forecast panelists see the economy growing 4.6% in 2019, which is unchanged from last month’s forecast. The panel expects GDP to expand 4.5% in 2020.


Author:, Economist

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Panama Economic Activity June 2019

Note: Year-on-year changes and annual average variation of trend-cycle economic activity in %.
Source: National Comptroller’s Office and FocusEconomics calculations.


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