PIOJ Director General Dr. Wayne Henry
.png)
00:00
00:00
00:00
Dr. Wayne Henry
Jamaica's economy registered estimated growth of 1.9 per cent for the October to December quarter.
Director General of the Planning Institute of Jamaica (PIOJ) Dr. Wayne Henry says the increase was linked to higher levels of employment, which drove firms to increase operations to meet the growth in demand.
It also increased productive capacity in the mining and quarrying industry, which facilitated an increase in aluminium production, as well as increased consumer confidence associated with the perceived favourable prospects for job opportunities.
The performance brought economic growth for the calendar year 2023 to an estimated 2.6 per cent.
This reflected higher real value added for both the goods producing industry, which was up 2 per cent, and the services industry, up 2.9 per cent.
"All industries recorded growth in output with the exception of three industries - agriculture, forestry and fishing, construction, and producers of government services. Growth for the year was led by hotels and restaurants, up 11.9 per cent, and mining and quarrying, up 87.6 per cent," Dr. Henry reported.
The PIOJ held its quarterly press briefing on Wednesday.
All feeds
