PIOJ reports 0.3% growth for July-September quarter

The Planning Institute of Jamaica (PIOJ) is reporting that the economy grew by 0.3% for the July to September quarter.

Dr. Wayne Henry, the PIOJ’s Director-General, speaking Tuesday at the agency's quarterly media briefing, noted that this represents the 19th consecutive quarter of economic growth.

He said the out-turn for the three months was driven by increases in the services sector, and came despite a contraction in the goods producing sector.

He said the level of growth was constrained by a number of factors: "Drought conditions - which negatively impacted the performance of some industries, particularly agriculture, forestry and fisheries, and electricity and water; the operational closure of the Alpart alumina refinery during the period, which resulted in a sharp contraction in the mining and quarrying industry..."

He also cited the impact of the "trade war" between the USA and China as an additional growth constraining factor for the Jamaican economy.