Panama: Economic activity growth falls to over one-year low in July
Economic activity expanded 3.4% year on year in July (June: +8.4% yoy). The outturn marked the worst reading since March 2021.
Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 14.9% in July, down from June’s 16.7% reading.
The softened print came amid a more difficult base effect as well declines in copper exports and agriculture and fishing activity. Activity was likely affected by cost-of-living strikes throughout July. On the other hand, improvements were seen in construction and financial services.