Panama Economic Activity February 2019


Panama: Economic activity slightly accelerates in February

April 22, 2019

The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) grew 3.7% year-on-year in February, ticking up from January’s 3.6% print.

According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity in February was largely driven by growth in the sectors of transportation, warehousing and communications (which includes activity in the Panama Canal and national ports); water and electricity supply; and hotels and restaurants. The sectors of commerce, manufacturing and agriculture also grew in the month, albeit at a softer pace than the above-mentioned.

On a month-on-month, seasonally-adjusted basis, growth in economic activity came in at 0.1% in February, up from January’s flat reading. Meanwhile, average annual growth in economic activity inched up from 3.1% in January to 3.2% in February.

FocusEconomics Consensus Forecast panelists see the economy growing 4.9% in 2019, which is down 0.1 percentage points from last month’s forecast. The panel expects GDP to expand 4.8% in 2020.

Author:, Economist

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Panama Economic Activity Chart

Panama Economic Activity February 2019 0

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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