Dr. Wayne Henry, Director General, Planning Institute of Jamaica says the island’s economy has shown continued growth for four-and-a-half years.
Jamaica’s Dr. Wayne Henry, says the island’s economy has shown growth for last four-and-a-half years.
The Caricom Business News Aggregation Service, has reported that 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.
This evaluation is based on the analysis 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.