Panama Economic Activity April 2016


Panama: Economic activity stabilizes in April

June 24, 2016

In April, the monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) rose 3.7% over the same month of the previous year, matching the reading tallied in March. According to the National Comptroller’s Office, the increase in April was driven by growth in most sectors of the economy, with the transportation, warehousing and communications, mining and quarrying components reporting the strongest expansions. April’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 April dropped 0.10% in seasonally-adjusted terms, which marked a softer contraction than the 0.15% decline tallied in March. Meanwhile, annual average growth in economic activity inched up from 3.8% in March to 3.9% in April.

FocusEconomics Consensus Forecast panelists project that the economy will grow 5.8% in 2016, which is down 0.1 percentage points from last month’s forecast. The panel expects GDP to expand 6.0% in 2017.

Author: Jean-Philippe Pourcelot, Economist

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Panama Economic Activity Chart

Panama Economic Activity April 2016

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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