The economy of Panama advanced 2.94 percent year-on-year in March 2019, edging down from a 2.96 percent expansion in the previous month. Growth was mainly boosted by transport and communications, mostly in Panama Canal; utilities driven by thermal energy and natural gas; public administration and financial intermediation. Leading Economic Index in Panama averaged 6.27 percent from 2007 until 2019, reaching an all time high of 15.69 percent in April of 2008 and a record low of -2.26 percent in August of 2009.
Leading Economic Index in Panama is expected to be 4.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Panama to stand at 4.80 in 12 months time. In the long-term, the Panama Economic Activity Index YoY Change is projected to trend around 5.30 percent in 2020, according to our econometric models.