Thursday January 05 2017
Jamaica GDP Annual Growth Rate at 2.00 percent
The Jamaican economy advanced 2 percent year-on-year in the third quarter of 2016, following a 1.4 percent expansion in the previous period. It is the highest growth rate since the second quarter of 2014, boosted by production of both goods and services. Agriculture, forestry and fishing grew by 29.1 percent (9.4 percent in Q2); mining and quarrying advanced 2 percent (-1.9 percent in Q2) and manufacturing edged up 0.1 percent (0.6 percent in Q2). Increases were also recorded for electricity and water supply (2.5 percent vs 5 percent in Q2); hotels and restaurants (2.2 percent vs 1.3 percent in Q2); transport (0.5 percent vs 0.7 percent in Q2); wholesale and retail trade (0.5 percent, the same as in Q2). In contrast, construction shrank 0.7 percent (+1.6 percent in Q2). On a quarterly basis, the economy expanded 0.9 percent.