Panama Economic Activity September 2016


Panama: Economic activity picks up in September

November 25, 2016

In September, the monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) rose from the 3.9% expansion observed in August to a four-month high of 4.1% in September. According to the National Comptroller’s Office (Contraloría General de la República), water and electricity, mining and quarrying, construction, and transportation were the components that reported the strongest expansions. Conversely, manufacturing, commerce and fishing contracted.

On a month-on-month basis, growth in economic activity picked up from the 0.53% expansion observed in August to 0.83% in September, marking the highest reading since January 2013. Meanwhile, annual average growth in economic activity remained stable in September at the 4.1% reading observed in August.

FocusEconomics Consensus Forecast panelists project that the economy will grow 5.7% in 2016, which is unchanged from last month’s forecast. The panel expects GDP to expand 5.8% in 2017, which is also unchanged from last month’s projections.

Author: Jean-Philippe Pourcelot, Economist

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Panama Economic Activity Chart

Panama Economic Activity September 2016

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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