(Reuters) – Panama’s economy grew 8.7 percent in May compared to the same month a year earlier, led by gains in the construction sector as part of an ongoing expansion of the Panama Canal, the government said on Thursday.
The government maintains a forecast of nearly 10 percent growth for 2012 driven by a $5.25-billion expansion of the canal.
Rapid growth has pressured inflation this year, but recent consumer price data showed annual inflation cooling in June to 5.8 percent from a 6 percent rate in May.