Kingston – Jamaica’s economy grew by an estimated six per cent for the October to December 2021 quarter, relative to the corresponding period the previous year. This was driven by increases of 7.8 and 0.4 per cent, respectively, in the Services and Goods Producing Industries, the Planning Institute of Jamaica (PIOJ) reports. The out-turn also represents the third consecutive period of growth recorded, dating back to the June 2021 quarter, …
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The Ministry of Finance and Public Sector has said its fiscal performance is within reach of projected targets as the revised macroeconomic assumptions for FY 2021/22 include a projection for real GDP expansion of nine per cent (up from 5.2 per
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“In April, the labor market recorded the third straight month of gains despite tightening restrictions due to an increase in COVID-19 cases,” said Nela Richardson, Chief Economist, ADP. “Nearly every sector added jobs, with only information contracting slightly. Leisure and hospitality and trade, transportation and utilities led job growth along with other service-producing industries, while the goods-producing industries remained flat.”
5:58 pm, Thu December 31, 2020
The Jamaican economy declined by more than 10 per cent in the third quarter of 2020 when compared to the similar quarter of 2019.
The 10.7 per cent decline reported by the Statistical Institute of Jamaica (STATIN) on Thursday is lower than the Planning Institute of Jamaica s estimate last month of an eleven point three percent contraction.
STATIN said the downturn was due to declines in of 13.1 per cent in the Services industry and 3.5 per cent in the Goods Producing industry.
According to STATIN, the economy was impacted by the continued spread of the COVID-19 pandemic and the measures implemented to limit its spread.