Panama Economic Activity April 2017


Panama: Economy activity expands solidly in April

May 24, 2017

The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) expanded 6.3% in April, coming in below March’s multi-year high of a 7.9% expansion. Despite the drop, the index logged its second strongest expansion since March 2015 and points to strong momentum in the economy.

According to the National Comptroller’s Office (Contraloría General de la República), April’s expansion was driven by an increase in almost all components of the index where commerce, transportation, warehousing and communication, construction and mining reported the strongest growth rate. On the contrary, fishing, agriculture and health services were the only three components that declined.

On a month-on-month basis, growth remained steady at March’s 0.7% in April. Meanwhile, annual average growth in economic activity increased from 4.9% in March to 5.1% in April, the highest since March 2015.

FocusEconomics Consensus Forecast panelists project that the economy will grow 5.7% in 2017, which is unchanged from last month’s forecast. The panel also expects GDP to also expand 5.7% in 2018.

Author: Jean-Philippe Pourcelot, Economist

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Panama Economic Activity Chart

Panama Economic Activity April 2017 0

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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