Jamaica

Jamaica’s Economy Shows 4.2% Growth In First Quarter

Jamaica’s economy grew by 4.2 percent in the first quarter of this year.

The Statistical Institute of Jamaica (STATIN) says real value added in the January to March period was influenced by the growth of 5.4 percent in the services industry.

The performance also reflects an improvement compared to the projection given by the Planning Institute of Jamaica (PIOJ) in May.

The PIOJ estimated growth of 2.7 percent in the three months.

STATIN says the performance reflected the sustained recovery from the effects of the COVID-19 pandemic.

Compared to the fourth quarter of 2022, GDP grew by one percent.

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Readers Bureau, Contributor

 Edited by Jesus Chan

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