Panama: Economic activity growth stabilizes in February
Latest reading: Economic activity increased 4.1% on a year-on-year basis in February, stable from the previous month’s reading.
Construction was the lead driver, supported by building permits and public civil works investment. Commercial activity also contributed, underpinned by car registrations, fuel sales and Colón Free Trade Zone reexports. The transport sector remained a positive contributor, though it decelerated from January, with Panama Canal toll revenues and cargo volumes still expanding alongside air transport. On the downside, banana and seafood exports contracted for the second time this year.
In month-on-month terms, economic activity was down 0.4% in February, following a 1.3% decline in the previous month.