Panama: Economic activity remains resilient in April
June 24, 2011
In April, the economy expanded 6.8% over the same month last year (March: +6.7% year-on-year), according to the monthly indicator of economic activity (IMAE, indice Mensual de Actividad Economica). According to the National Comptroller's Office (Contraloria General de la Republica), resilient expansion mainly reflected better performance of the transportation, trade and construction sectors. On a monthly basis, economic activity rose 0.76% over the previous month in seasonally adjusted terms, below March's 0.86% month-on-month increase. Annual average growth in economic activity was unchanged at 6.7% in April. That said, growth should remain strong going forward, fuelled by ongoing investment in a project that aims to double the capacity of the Panama Canal by 2014.