Tue | Sep 26, 2017

PIOJ reports 1.1 per cent growth for April to June quarter

Published:Wednesday | August 24, 2016 | 8:46 PM
Wayne Henry ... the short term prospects for the July-September quarter remain positive.

The Planning institute of Jamaica (PIOJ) says the Jamaican economy grew by 1.1 per cent in the April to June quarter.

It says improved economic performance during the period was driven by the performance of the Agriculture, Hotel and Restaurants, and Electricity and Water sectors.

Newly appointed Director General of the PIOJ, Dr Wayne Henry, made the announcement this morning at the agency’s quarterly press briefing.

The PIOJ says short term prospects for the July-September quarter remain positive.

It says continued strengthening in the performance of most industries within the Goods Producing and Services Industries is expected, and will be supported by improved investment prospects and increased investor confidence.

Real GDP is projected to grow within the range of 0.5 per cent to 1.5 per cent compared with the corresponding period last year. 

But the PIOJ cautions that threats from possible weather-related shocks could derail growth.