Economy At A Glance – July – September 2018

According to the Statistical Institute of Jamaica, here are the highlights for the July – September 2018 quarter for the Jamaican Economy.

Q3 2018 vs Q3 2017

Q3 2018 vs Q3 2017 recorded 1.8% growth in the economy where:

  • Goods Producing Industries increased by 5.1%
  • Services Industries increased by 0.7%

Goods Producing Industries

The positive performance of the Goods Producing Industries was due to increased output in Mining & Quarrying (51.0%) – with the reopening of the Jiuquan Iron and Steel Company (JISCO) Alpart Refinery – and Construction (3.7%) – with increased activities in the civil engineering sub-groups and work associated with the continued expansion of road infrastructure.  A decline was noted in Manufacturing (0.3%) while Agriculture, Forestry & Fishing remained unchanged.

Service Industries

All industries within the Services Industries recorded higher levels of output with two exceptions:

  • Hotels & Restaurants: 2.1%
  • Transport, Storage & Communication: 1.4%
  • Other Services: 1.2%
  • Wholesale & Retail; Repairs; Installation of Machinery & Equipment: 0.8%
  • Finance & Insurance Services: 0.7%
  • Real Estate, Renting and Business Activities: 0.5%
  • Electricity & Water Supply: -0.1%
  • Producers of Government Services – 0.0%

Q3 2018 vs Q2 2018

Q3 2018 vs Q2 2018 recorded 1.1% growth in the economy where:

  • Goods Producing Industries increased by 0.7%
  • Services Industries increased by 1.3%