Panama Economic Activity October 2016

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Panama: Economic activity slows in October

December 27, 2016

In October, the monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) dropped from the revised 4.8% expansion observed in September (previously reported: 4.1% year-on-year) to 3.7%. According to the National Comptroller’s Office (Contraloría General de la República), October’s print reflects growth in all components of the index except for manufacturing industries, fishing and communal activities. Commerce, transportation, warehousing and communications were the components that expanded at the fastest pace.

On a month-on-month basis, growth in economic activity slowed from 0.44% in September to 0.41% in October. Meanwhile, annual average growth in economic activity inched down from 4.4% in September to 4.3% in October.

FocusEconomics Consensus Forecast panelists project that the economy will grow 5.7% in 2017, which is unchanged from last month’s forecast. The panel expects GDP to also expand 5.7% in 2018.


Author: Jean-Philippe Pourcelot, Economist

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Panama Economic Activity Chart


Panama Economic Activity October 2016 1

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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