Jamaica just eked out Q1 growth

Economic activity in Jamaican in the March 2017 quarter was virtually zero, according the data put out by Statistical Institute of Jamaica (Statin), the government body charged to collating economic data on the country. The results are subject to revision with the final out turn likely to be arrived at more than a year from now.
Statin stated that weather conditions affected production in both agricultural and the mining sector in the quarter leading to declines in those sectors.
According to the release by Statin, the economy grew by a mere “0.1 percent in real terms for the first quarter of 2017 when compared to the similar quarter of 2016. This growth was due mainly to a 0.4 percent increase in the Services industries. While there were improved performances in both the Manufacturing and Construction industries.” “The overall goods producing industries declined by 0.9 percent,” the report stated.
All industries within the Services industries recorded higher levels of output with the exception of Producers of Government Services which remained relatively unchanged.

Increased output was recorded for: Electricity & Water (0.5 percent), Wholesale & Retail Trade; Repairs; Installation of Machinery & Equipment (0.3 percent), Hotels & Restaurants (1.1 percent), Transport, Storage & Communication (0.4 percent), Finance & Insurance Services (1.0 percent), Real Estate, Renting & Business Activities (0.3 percent) and Other Services (0.4 percent). Increase in visitor arrivals and increased activities in the restaurant group positively impacted the Hotels & Restaurants industry. Output of the Goods Producing industries declined by 0.9 percent due largely to a 3.6 percent reduction in Agriculture, Forestry & Fishing and a 9.9 percent decline in Mining & Quarrying.
“The performance of the Agriculture, Forestry & Fishing industry was negatively affected by drought conditions in the south central parishes and heavy rainfall in the North Eastern parishes. The Mining & Quarrying industry was affected by operational problems at one of the factories, heavy rainfall and a loss in the market share from the United States of America for crude bauxite. The Manufacturing industry grew by 2.7 percent and Construction by 0.6 percent. Increased output from the Manufacturing industry was influenced mainly by a 5 percent increase in the Food, Beverages & Tobacco sub-industry. The overall growth in the Manufacturing industry was however, tempered by a 3.4 percent fall in petroleum output. The performance of the Construction industry reflected increased activities in the building construction and building installation sub-groups. The industry continued to benefit from the expansion and renovation in the hotel sector,” Statin said.