Panama: Growth in economic activity slows to multi-year low in February
April 20, 2018
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) slowed in year-on-year terms from January’s five-month high of 4.6% to 3.1% in February. February’s print marked the slowest expansion since December 2015.
According to the National Comptroller’s Office (Contraloría General de la República), February’s print was supported by an increase in components of the index including commerce; transportation, warehousing and communications, which includes growth in the Panama Canal ports and the aviation sector; and manufacturing industries. Meanwhile, average annual growth in economic activity dropped from 5.2% in January to 5.0% in February.
On a month-on-month basis, growth in economic activity declined from a 0.4% increase in January to a flat reading in February.