The Jamaican Economy Expands in Second Quarter

The Planning Institute of Jamaica has indicated that in the April - June 2014 quarter, real GDP grew by an estimated 1.2% relative to the corresponding period of 2013. The Goods Producing Industry increased by 3.6% and the Services Industry recorded growth of 0.5%. Within the Goods-Producing Industry, increases in Agriculture, Forestry & Fishing (up 12.5%) and Construction (up 1.0%) outweighed declines of 0.6% and 0.3% recorded by Mining & Quarrying and Manufacture, respectively. All subcategories of the Services Industry recorded growth except for Producers of Government Services (down 0.2%) and Electricity & Water Supply (down 1.6%). The industries registering the largest increases were Hotels & Restaurants (up 2.7%); Transport, Storage & Communication (up 1.3%); and Other Services (up 1.0%).

For January – June 2014, real GDP was estimated to increase by 1.4%