Panama: Economic activity records lowest growth since March in September
November 22, 2021
Economic activity expanded 18.0% in year-on-year terms in September, which was a deterioration from August's 28.5% increase. September's outturn marked the worst reading since March. In detail, activity involving hotels and restaurants and financial services had a poor performance, falling in annual terms in September. However, among expanding subsectors, manufacturing industries related to food products, agriculture and cement production rose at a healthy clip.
Meanwhile, annual average economic activity growth rose to 10.8% in September (August: +7.6%). This signals an improving trend in the economy.
Author: Frederico Teixeira de Abreu, Junior Economist