Panama: Economic activity picks up in November
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) rose from 3.0% in October to 3.5% in November.
According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity from January to November was largely due to growth in the sectors of transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; and commerce—notably in the Colón Free Trade Zone. On the other hand, activity in manufacturing; agriculture; fishing; and recreation and culture shrank in the period.
On a month-on-month, seasonally-adjusted basis, growth in economic activity inched up from 0.5% in October to 0.6% in November. Meanwhile, average annual growth in economic activity inched down from 3.3% in October to 3.2% in November.