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.