Panama: Economic activity continues to gain steam in September
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) accelerated from 3.4% in August to 3.4% in September, its best showing since last April.
According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity from January to September came on the back of growth in the sectors of fishing; transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; and commerce. On the other hand, activity in construction; real estate; recreation and culture; and mining and quarrying shrank in the period.
On a month-on-month, seasonally-adjusted basis, growth in economic activity fell from 1.2% in August to 0.5% in September. Meanwhile, average annual growth in economic activity was stable at August’s 3.4% in September.