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CARICOM Business -  Jamaica records 18 consecutive quarters of growth

Posted in: Press Releases by kendol | 01 September 2019 | 2324

    Extract from CARICOM Business: Vol 2 No 35

    The Jamaican economy recorded growth of one per cent in the April to June 2019 quarter, extending Jamaica's growth trend to 18 consecutive quarters or four-and-a-half years. That’s the word from Dr. Wayne Henry, Director General, Planning Institute of Jamaica. Growth in the economy was however negatively affected by drought conditions, which led to a 2.5% contraction of the Agriculture, Forestry and Fishing industry & impacted further by a 1% decline in     Construction. Dr. Henry said the overall Goods-Producing Industry’s flat out-turn was largely attributed to improved performances by the mining & quarrying, & manufacturing industries, which grew by 4.5 and 1.7 %, respectively. The Services Sector was estimated to have grown by 1.4%, relative to the corresponding quarter of the previous year. This reflected growth in all subsectors, was largely spurred by an estimated 5.6% expansion in Hotels and Restaurants, consequent on a 7.8% increase in foreign national arrivals 

    Read full newsletter:  CARICOM Business Vol 2 No 35