Thursday October 06 2016
Jamaica GDP Annual Growth Rate at 1.40 percent
Jamaica's economy advanced 1.4 percent year-on-year in the second quarter of 2016, following 0.8 percent expansion in the previous period. Growth was mainly driven by agriculture (+9.4 percent from +3 percent in Q1), wholesale and retail trade (+0.5 percent), manufacturing (+0.6 percent from +0.3 percent in Q1, transport and communication (+0.7 percent from +0.4 percent in Q1), real estate renting (+0.5 percent from +0.4 percent in Q1), construction (+1.6 percent from +0.3 percent in Q1) and other manufacturing (+3.7 percent from +0.6 percent in Q1). In contrast, contraction was recorded in mining and quarrying (-1.9 percent from -0.8 percent in Q1), food, beverages and tobacco (-1.4 percent from +0.2 percent in Q1). On a quarter-on-quarter basis, the GDP expanded 1.6 percent.