Panama: Economic activity rises in November
January 24, 2013
In November, the monthly indicator for economic activity (IMAE, Indice Mensual de Actividad Economica) expanded 10.4% over the same month the year before, which was above the revised 9.7% increase registered in October (previously reported: +10.2% year-on-year). According to the National Comptroller's Office, the expansion was mainly driven by robust growth in construction, mining and quarrying, transport and storage as well as in communications.
On a month-on-month basis, economic activity decreased 0.82% in seasonally adjusted terms in November, contrasting the 1.75% expansion observed in October.
The annual average growth in economic activity edged down from 9.9% in October to 9.8% in November.