The economy of Panama advanced 3.57 percent year-on-year in January of 2019, slower than the 3.80 percent expansion for the previous month and 3.49 percent in November. Growth was led by transport (mainly in Panama Canal) and utilities. Considering the January to December period, the economy grew 3.27 percent, compared to a 5.20 percent expansion in the same period of 2017. Leading Economic Index in Panama averaged 6.33 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 4.80 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.