Panama: Economic activity softens in October
December 17, 2018
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) fell from 3.8% in September to 3.0% in October.
According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity from January to October came on the back of growth in the sectors of transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; and commerce—notably in the Colón Free Trade Zone. On the other hand, activity in construction; real estate; fishing; recreation and culture; and mining and quarrying shrank in the period.
On a month-on-month, seasonally-adjusted basis, growth in economic activity was stable at September’s 0.5% in October. Meanwhile, average annual growth in economic activity inched down from 3.4% in September to 3.3% in October.
Author: Joffrey Simonet, Economist