Panama Economic Activity February 2017

Panama

Panama: Economy activity picks up steam in February

April 25, 2017

In February, the monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) rose from a 5.0% expansion in January to a stronger 5.5% rise, a seven-month high. According to the National Comptroller’s Office (Contraloría General de la República), commerce, transportation, warehousing and communication, and industry were the components that expanded at the fastest pace. In contrast, agriculture, fishing and domestic service were the components that declined in the surveyed month.

On a month-on-month basis, growth in economic activity picked up from 0.4% in January to 0.7% in February. Meanwhile, annual average growth in economic activity edged up from 5.0% in January to an almost two-year high of 5.2% in February.

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 February 2017 1

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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