Panama: Economic activity slows in March
April 26, 2016
In March, the monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) dropped from 4.3% in February to 3.7%. According to the National Comptroller’s Office, the increase in March was driven by growth in most sectors of the economy, with the transport, warehousing and communications, and construction components reporting the strongest expansions. March’s overall growth was, nevertheless, partly offset by a contraction in manufacturing, fishing and commercial activity, which has been negatively affected by lower economic activity in the Colón Free Trade Zone.
On a month-on-month basis, growth in economic activity in March jumped from 0.06% in February to 0.84% seasonally-adjusted terms and marked the fastest expansion in over three years. Meanwhile, annual average growth in economic activity edged down from 4.1% in February to 3.8% in March.