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Old April 5th, 2020, 03:00 PM
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Don1 Don1 is offline
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Default JA economy flat/negative as a COVID-induced recession looms

Growth was flat for the fourth quarter STATIN
Services grew, but mining plummeted

Friday, April 03, 2020 3 Comments

Total value added for the Jamaican economy was $197,013 million for the fourth quarter of 2019. This remained relatively unchanged when compared to $197,086 million for the similar quarter of 2018. The services industries grew by 1.2 per cent, while the goods producing industries declined by 3.7 per cent.

All industries within the services industries grew: electricity & water supply (2.8 per cent), wholesale & retail trade; repairs; installation of machinery & equipment (0.7 per cent), hotels & restaurants (3.7 per cent), transport, storage & communication (0.5 per cent), finance & insurance services (3.3 per cent), real estate, renting & business activities (0.7 per cent), producers of government services (0.2 per cent) and other services (1.4 per cent).

Within the goods producing industries, the mining & quarrying and construction industries declined by 40.4 per cent and 1.9 per cent, respectively. Higher levels of output were however achieved in agriculture, forestry & fishing (3.9 per cent) and manufacturing (0.4 per cent).
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