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Panama Economic Activity March 2024

Panama: Economic activity deteriorates in March

Economic activity dropped 2.1% year on year in March (February: +0.2% yoy). Looking at the details of the release, activity in the Panama Canal remained in contraction, as did mining and quarrying production, energy output and manufacturing activity. On the flipside, the financial, construction and real estate sectors registered improvements in the surveyed month.

Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 5.1%, down from February’s 6.0% reading.

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