Panama economy picks up in November

Panama's economy gained some steam in November compared to the same period a year earlier, the government said on Monday. The economy grew 4.31 percent, up from 4.25 percent in October, driven largely by a boost in telecommunications and transportation. Panama's economy has been cooling as $15 billion of infrastructure projects, mainly for the expansion of the Panama Canal, have been winding down, with the project now 96 percent complete.
Such public works had helped lift economic growth to one of the highest rates in Latin America in recent years. In the January-November period, Panama's economy grew 4.09 percent compared to the same period a year earlier. The government expects the economy grew 6 percent for the full year, the slowest growth rate since 2009.