KINGSTON, Jamaica — The Planning Institute of Jamaica (PIOJ) this morning reported that the country during the April-June quarter has recorded GDP growth of 1.0 per cent relative to the corresponding period. This represents 18 consecutive quarters of growth spanning four and a half years.

The country’s main planning entity made these findings public at a media briefing of its review of the country’s economic performance. This increase, as reported, was largely due to an estimated increase of 1.4 per cent in the services industry, which saw significant growth in the hotels and restaurants (5.6 per cent), finance and insurance services (1.8 per cent) and other services (1.5 per cent).

“The impact of the growth in the mining and quarrying (4.5 per cent) and manufacturing (1.7 per cent) combined with a decline in agriculture, forestry and fishing at 2.5 per cent and construction (1.0 per cent) led to the relatively flat performance of the goods producing industry,” the PIOJ noted.

According to the briefings led by Dr Wayne Henry, Director General of the PIOJ, all industries, with the exception of agriculture, forestry and fishing were projected to have grown during the first six months of 2019.

During the quarter, the country recorded an inflation rate of 0.8 per cent attributed to an increase in the index for food and non- alcoholic beverages (up by 1.1 per cent) and housing, water, electricity, gas and other fuels (up by 0.9 per cent).

Other highlights of the report also spoke to an expansion of the labour force (with April recording the largest increase per month ever), simultaneously resulting in a decline of persons outside the labour force for the same period.

These preliminary estimates are done six weeks after the quarter in review based on information presented by the major data providers.

Henry added that “the release of preliminary outturn information is used by various stakeholders including our international development partners, the private sector as well as the government to inform critical planning and policy related decisions”.

Kellaray Miles