Panama: Growth in economic activity picks up in April
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) showed an acceleration in year-on-year growth, from March’s almost three-year low of 2.9% to 4.6% in April.
According to the National Comptroller’s Office (Contraloría General de la República), the print was supported by an increase in various components of the index including warehousing and communications; transportation, warehousing and communications, which includes growth in the Panama Canal, ports and the aviation sector; and commerce. In turn, mining and quarrying output and construction activity declined in April.
Meanwhile, average annual growth in economic activity inched down from 4.5% in March to 4.4% in April.
However, on a month-on-month basis, growth in economic activity plummeted from a 2.0% increase in March to 0.2% in April.