Panama: Economic activity notches quickest growth since September 2022 in May
Economic activity grew 9.0% year on year in May (April: +7.4% yoy). May’s print marked the best reading since September 2022. The acceleration was supported by expansions in the construction, hospitality and transport sectors. Less positively, mining and quarrying output declined.
Meanwhile, the trend improved, with the annual average growth of economic activity coming in at 8.7%, up from April’s 8.6%.