Jamaica: Economy Grew Between 1 and 2 Percent in Second Quarter

By: - August 26th, 2014

Above: (left) Bank of Jamaica Governor Brian Wynter (JIS Photo)

By the Caribbean Journal staff

Real economic activity in Jamaica grew expanded by between 1 and 2 percent in the second quarter, according to a new report from the Bank of Jamaica.

That was the fourth consecutive quarter of growth, according to the bank, with the outlook for the 2014/2015 fiscal year within the same parameters.

“The recovery is projected to continue over the next four quarters, despite some slowing in the September quarter due to the impact of the drought on agricultural production,” according to Bank of Jamaica Governor Brian Wynter.

A recent projection from the United Nations Economic Commission for Latin America and the Caribbean pegged the country’s projected growth at 1.2 percent, which would be the second-lowest in the Caribbean region.

Headline inflation stood at 8 percent at the end of the second quarter, down from 8.8 percent in the same period in 2013.

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