Jamaica’s GDP Growth Is Still Slow

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Jamaica’s economy continues to struggle.

The island recorded estimated GDP growth of 0.8 percent last year, according to the latest data from the Planning Institute of Jamaica.

That was still an improvement over 2014, however, when the island’s economy grew by 0.5 percent, lagging most of its neighbors in the Caribbean.

PIOJ director general Colin Bullock took a positive view of the numbers, however.

“The growth recorded for the calendar year (also) reflects a strengthening of performance in the second half of the year, when there was an estimated growth of 1.0 per cent, up from 0.5 per cent in the first half,” Bullock said.

He also said that Jamaica’s economic performance had been constrained by drought conditions from the previous quarter, as well as production downtime associated with reduced demand from major purchasers of Jamaican bauxite.

— CJ Staff

 

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