Panama Economic Activity November 2018

Panama

Panama: Economic activity picks up in November

January 21, 2019

The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) rose from 3.0% in October to 3.5% in November.

According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity from January to November was largely due to growth in the sectors of transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; and commerce—notably in the Colón Free Trade Zone. On the other hand, activity in manufacturing; agriculture; fishing; and recreation and culture shrank in the period.

On a month-on-month, seasonally-adjusted basis, growth in economic activity inched up from 0.5% in October to 0.6% in November. Meanwhile, average annual growth in economic activity inched down from 3.3% in October to 3.2% in November.

FocusEconomics Consensus Forecast panelists see the economy growing 5.0% in 2019, which is unchanged from last month’s forecast. The panel expects GDP to expand 4.8% in 2020.


Author:, Economist

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Panama Economic Activity November 2018

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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