Panama Economic Activity February 2018


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.

FocusEconomics Consensus Forecast panelists see the economy growing 5.4% in 2018, which is unchanged from last month’s forecast. The panel expects GDP to expand 5.7% in 2019.

Author: Jean-Philippe Pourcelot, Economist

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Panama Economic Activity Chart

Panama Economic Activity February 2018

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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