Panama: Economic activity slows at the outset of the year
March 25, 2013
In January, the monthly indicator for economic activity (IMAE, Indice Mensual de Actividad Economica) expanded 7.0% over the same month last year, which was below the 7.2% increase registered in December. According to the National Comptroller's Office, the expansion was mainly driven by growth in fishery, construction as well as in mining and quarrying.
On a month-on-month basis, economic activity increased 0.72% in seasonally adjusted terms in January, up from the 0.66% expansion observed in December.
As a result of the weaker annual expansion the trend points downwards in January, with annual average growth in economic activity falling from 9.4% in December to 9.0% in January.
FocusEconomics Consensus Forecast panellists see industrial production at 8.4% this year, which is unchanged from last month's forecast. For 2014, the panel sees industrial production growth rate decelerating to 5.5%.