Jamaican economy records 5.7% growth for June quarter
Published:Thursday | August 18, 2022 | 7:10 PM
The Planning Institute of Jamaica (PIOJ) is estimating the economy grew by 5.7 per cent in the April to June quarter of 2022.
Services grew 7.7 per cent, while the goods-producing industry declined by 0.4 per cent relative to the June 2021 period.
PIOJ head, Dr Wayne Henry, said the overall growth largely reflected the impact of the removal of measures implemented to manage the COVID-19 pandemic.
He said increased agricultural output, continued improvement in the markets of Jamaica's main trading partners and increased employment and consumer confidence also contributed.
Despite the overall improvement, the PIOJ said further growth was stymied by plant downtime, particularly in the manufacturing and mining industries, partly due to aged equipment and other production-related disruptions.
The PIOJ is projecting that growth for the July to September quarter will be within the range of 2 to 3 per cent.
Follow The Gleaner on Twitter and Instagram @JamaicaGleaner and on Facebook @GleanerJamaica. Send us a message on WhatsApp at 1-876-499-0169 or email us at onlinefeedback@gleanerjm.com or editors@gleanerjm.com.