Record Growth in the economy continues under the JLP

LBC NEWS 2
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The Jamaican economy grew by 1.3% for the second quarter of 2019 when compared to the similar quarter of 2018.

That’s according to figures released by the Statistical Institute of Jamaica, Statin.

Statin says the growth in the Jamaican economy is based on improved performances in both the Goods Producing Industries of 0.6% and the Services Industries of 1.6%.

Minister of Finance and Planning Dr. Nigel Clarke

The Institute says the positive performance of the Goods Producing Industry was due to higher levels of output in Manufacturing of 3.3% and Mining and Quarrying of 4.6%.

However, Statin says Agriculture, Forestry and Fishing declined by 1.7% and Construction by 1.4%.

Growth in the Mining and Quarrying industry was mainly due to the rise in alumina production resulting from improvement in operations at the Alpart refinery.

Increased output of 8.3% from the Other Manufacturing sub-industry was the main contributor to the growth in the Manufacturing industry.

The Agriculture, Forestry & Fishing industry’s poor performance was attributed to unfavourable weather conditions.

Statin also says a fall in the construction of 1.4% was mainly due to a reduction in activities in the civil engineering sub- group.

This was a reflection of lower levels of expenditure as some of the major road rehabilitation works were close to completion.

Staff Reporter

news@lbcnewsjm.com

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