Panama Economic Activity August 2018


Panama: Economic activity picks up markedly in August

October 17, 2018

The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) accelerated from 2.0% in July to 3.4% in August, its best showing since last April.

According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity from January to August came on the back of growth in the sectors of fishing; transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; public administration; commerce; and financial intermediation. On the other hand, activity in construction; recreation and culture; and mining and quarrying shrank in the period.

On a month-on-month, seasonally-adjusted basis, growth in economic activity swung from a 0.1% contraction in July to a 1.2% increase in August. Meanwhile, average annual growth in economic activity softened from 3.6% in July to 3.4% in August.

FocusEconomics Consensus Forecast panelists see the economy growing 5.2% in 2019, which is unchanged from last month’s forecast. The panel expects GDP to expand 5.1% in 2020.

Author:, Economist

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Panama Economic Activity Chart

Panama Economic Activity August 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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