Panama: Economic activity remains downbeat in August
November 24, 2020
Economic activity plunged 29.2% year-on-year in August, slightly up from July’s minus 30.9%. The print shows that the lingering Covid-19 crisis continued to plague the economy midway through Q3 due to tough domestic restrictions and the border closure.
The trend pointed down, with the annual average variation of economic activity coming in at minus 10.8% in August, down from July’s minus 8.1% reading.
Author: Frederico Teixeira de Abreu, Junior Economist