PANAMA CITY, Nov 24 (Reuters) - Panama's economic activity increased by 8.24 percent in September compared with the same month a year earlier, the government said on Monday.

Panama's economy has tapered its pace of expansion in recent months amid increasing expectations that the United States and other countries are stumbling toward recession.

Panama's economic activity increased 9.24 percent in August, year over year. The economy is expected to grow 9.5 percent for full 2008, despite a global liquidity crisis.

The comptroller general's office said construction, real estate and hotel and restaurant sectors all surged in the first nine months of the year.

The hotel and restaurant sectors benefited from an increase in tourist numbers, the government said. Panama's tourism authority says it has seen a sharp rise in tourism from Europe this year. (Reporting by Andrew Beatty; Editing by Diane Craft)