Panama: Economic activity deteriorates in January
Economic activity sank 14.6% compared to the same month of the previous year in January, which was a larger contraction than December’s 9.2% decrease. The downtick was likely driven by the gender-based curfew and other restrictions imposed in late-December denting services activity. However, it is worth noting that exports of copper rose in the month.
Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 17.1%, down from December’s minus 15.5%.