Panama: Economic activity softens in January
March 20, 2019
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) fell from 3.8% in December to 3.6% in January.
According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity in January was largely driven by growth in the sectors of transportation, warehousing and communications (which includes activity in the Panama Canal); 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 flat in January, contrasting the 0.5% rise logged in December. Meanwhile, average annual growth in economic activity inched down from 3.2% in December to 3.1% in January.
Author: Joffrey Simonet, Economist