The economy of Panama advanced 3.49 percent year-on-year in November of 2018, faster than the 2.96 percent rise in the prior month. Considering the January to November period, the economy grew 3.18 percent, compared to a 5.31 percent expansion in the same period of 2017. Growth was led by transport (mainly in Panama Canal), storage and communications; electricity and water namely renewable hydraulic, wind and solar energy; and commerce (Zona Libre de Colon). On the other hand, a slowdown was seen in agriculture; fishing; manufacturing and entertainment. Leading Economic Index in Panama averaged 6.37 percent from 2007 until 2018, 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 4.80 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 5.00 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.