good news for panama

Panama July Economic Activity Up 6.24%

Saturday, September 25 2010 @ 10:24 AM EDT
Contributed by: Don Winner
Views: 42
(RTTNews) – Panama’s economic activity rose 6.24% year-on-year in July compared to 6.89% increase in the previous month, the statistical office reported Friday. Activity grew for the eleventh month in a row. The country’s economy grew 6.3% in the second quarter compared to the same period a year ago. It followed a 5.8% expansion in the first quarter. Growth in the Latin American country was driven largely by transport and communications, utilities and tourism. The economy is one of the best performing in the region and was one of the most resilient amid the global economic slowdown.
Editor’s Comment: The other day I ran into a friend who is a real estate agent and advertiser on this website, as he was heading into a lawyers office to sign papers on a closing. I gave him just a quick “how it going?” His answer was “great, one sale per week for the past three weeks…” The Panamanian economy remained strong when the rest of the world was imploding, and it is also going to recover sooner than most as evidenced by this report. A 6% growth rate for the first half of the year means an expanding economy, new job creation, and generally good news across the board.

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