Panama: Economic growth accelerates again in September
November 26, 2013
In September, the monthly indicator for economic activity (IMAE, Indice Mensual de Actividad Economica) expanded 7.0% over the same month last year, which was above the 6.7% growth registered in August. According to the National Comptroller's Office, the monthly reading was mainly driven by growth in mining and quarrying, construction and fishing.
On a month-on-month basis, economic activity increased 0.74% in seasonally-adjusted terms in September, which was above the 0.60% rise observed in August. The trend continues to point downward; annual average growth in economic activity fell from 7.4% in August to 7.3% in September.
FocusEconomics Consensus Forecast panelists project the economy to grow 7.6% this year, which is unchanged from last month's forecast. The panel expects GDP to expand 6.9% in 2014, which is down 0.1 percentage points from last month's projection.
Author: Carl Kelly, Economist