The Bank of Jamaica says it has seen an increase in the three primary indicators of domestic demand it monitors.
The Central Bank said for the three months ended June, the 12 month average of PAYE receipts, debit and credit card transactions and annual value of imports all increased.
The increase in personal income was estimated at 0.2%, while debit/credit card transactions grew 2.2% and the value of imports was up 2.4%.
Increases in the three indicators suggest that domestic demand which has been subdued because of austerity measures is starting to pick up again.
Growth in domestic demand helps to drive economic growth.
Consistent with the increase in the indicators of domestic demand is the continuation of economic growth which has been estimated to be 1.2% in the June quarter.
The Bank of Jamaica says the growth is expected to continue for the next four quarters.
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