Markets

Jamaican Growth Flat in Second Quarter

By: Caribbean Journal Staff - August 21, 2012

Above: Planning Institute of Jamaica Director General Dr Gladstone Hutchinson (FP)

By the Caribbean Journal staff

Jamaica’s economy grew by 0.1 percent in the second quarter, according to data released by the Planning Institute of Jamaica.

PIOJ Director General Dr Gladstone Hutchinson said the largely flat growth came against a relatively stable macroeconomic environment, and came in large part due to “larger-than-expected contractions in some key industries.”

The “main detractors” from growth in the period were transport, storage and communications, each of which saw a 0.4-percent-point decrease; and mining and quarrying and construction, which each fell by 0.2 percentage points.

“Combined, these industries detracted 0.8 percentage points from GDP growth,” Hutchinson said.

Seeing positive increases in the second quarter were agriculture, wholesale and retail trade and hotel and restaurants. Together, the sectors combined for 0.9 percentage points of growth.

A report in April by the International Monetary Fund projected Jamaica’s Gross Domestic Product to grow by 1 percent overall in 2012.

Popular Posts w punta cana

A New All-Inclusive W Hotel Is Opening This Year in Punta Cana 

The first-ever all-inclusive W Hotel in the Caribbean is opening this year in Punta Cana, Dominican Republic, Caribbean Journal has learned.  The hotel, part of a broad expansion for parent company Marriott International, is on the list of expected 2024 […]


Why Grenada Is a New Caribbean Luxury Hotspot

beach house silversands

From its world-renowned chocolate to its pristine beaches to a region-leading focus on sustainability, Grenada is as fascinating and unique as destination as you’ll find in the Caribbean.  But in the last few years, the lush Eastern Caribberan island has […]


5 Adults-Only Resorts to Visit Right Now in the Caribbean 

galley bay

Sometimes you just want that extra degree of serenity, of privacy, of seclusion. There is a reason, after all, that adults-only resorts are booming in popularity, particularly in the Caribbean: travelers want to know that when they arrive, they know […]


Related Posts doctors cave beach with waves

Jamaica Adding New Automated Passport Kiosks

In a a bid to expedite processing at two of the Caribbean’s busiest airports, Jamaica is adding new automated passport control kiosks in Kingston and Montego Bay.  The new kiosks aim to “streamline passenger flow,” according to a statement from […]


The Cool List: the Coolest Hotels in the Caribbean for 2024

the cool list 2024

They’re different. They’re fun, they’re colorful, they’re unique. They’re themselves. The Caribbean has no shortage of cool hotels and in this, Caribbean Journal’s 12th annual Cool List, we highlight the places that hit you in a different way, that do […]


The 25 Best All-Inclusive Resorts in the Caribbean, from Adults-Only to Boutique

hammock cove in antigua

What is an all-inclusive resort? In recent years, the answer to that question has changed dramatically. Today, all-inclusive means a resort that is at the cutting edge of travel trends, one that is catering to the demands of a massive […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You