Jamaican GDP doubles 2015 growth

The Jamaican economy is growing in 2016 at twice the pace it grew in 2015 up to June, according to data released by the Statistical Institute of Jamaica, the entity that has the final say on the economic performance.
The economy that rose by 0.8 percent in the March quarter over the similar period in 2015 is up by 1.4 percent for the second quarter of 2016, compared to the similar quarter of 2015. If the trend were to continue, growth for the full year could hit 2 percent, the fastest pace of growth since 2006 with growth of 2.9 percent. The only other time since 2004 that the economy grew close the 2016 pace is 2007 when the economy grew by 1.45 percent and 1.43 percent in 2011.
Growth in 2015 over 2014 reflected an increase of 0.4 percent in the March quarter and 0.8 percent for the second quarter.
The 2016 second quarter increase, is attributed to improved performances in the Goods Producing industries 3.3 percent and the Services industries 0.8 percent but Mining & Quarrying industry declined by 1.9 percent. Increased outputs were recorded for Agriculture, Forestry & Fishing 9.4 percent, Manufacturing 0.6 percent and Construction 1.6 percent.Major growth in the service sector came from, Electricity & Water Supply grew by 5.0 percent, Hotels & Restaurants 1.3 percent, Finance & Insurance Services 1.4 percent.