Investment in Panama
Panama - Investment
GDP declines at a softer rate in Q3
According to a preliminary estimate, GDP fell at a milder pace of 23.6% year-on-year in the third quarter, above the 38.2% contraction tallied in the second quarter.
Services output fell 18.4% in the third quarter—marking a strong improvement from the second quarter's 29.9% contraction—with the key transportation subsector contracting at a softer pace, likely on improved Panama Canal data as global economic activity recovered. Moreover, industrial activity contracted at a softer pace of 45.3% in Q3 (Q2: -65.5% yoy), amid milder declines in manufacturing and construction. Meanwhile, agricultural growth fell to 2.9% in Q3, marking the worst reading since Q2 2019 (Q2: +4.3% yoy).
Moving on to Q4, the economic decline should be continuing to ease, although momentum will remain constrained as lingering Covid-19-related restrictions hamper activity. The government announced the tightening of restrictions in mid-December, with expanded curfew hours, two total lockdowns over the Christmas and new year holidays, and the reintroduction of gender-based mobility restrictions. The measures threaten to spill over into next year and delay the recovery in activity.
FocusEconomics Consensus Forecast panelists project that the economy will expand 6.4% in 2021, which is unchanged from last month’s forecast, and grow 5.5% in 2022.
Panama - Investment Data
|Investment (annual variation in %)||6.5||2.1||7.6||0.9||-|
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February 10, 2021
Consumer prices fell 0.14% from the previous month in October, following September's 0.06% increase.
February 2, 2021
Consumer prices were up 0.06% from the previous month in September, up from August's 0.02% increase.
January 22, 2021
Economic activity slid 14.1% in November (October: -16.8% yoy).
January 15, 2021
Consumer prices were up 0.02% from the previous month in August, contrasting July's 0.40% decrease.
January 13, 2021
Consumer prices were down 0.40% from the previous month in July, contrasting June's 0.52% increase.