JIS News

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  • The economy is expected to record growth of between 0.5 per cent and 1.5 per cent for the October to December 2015 quarter.
  • Director General of the Planning Institute of Jamaica (PIOJ), Colin Bullock, gave the growth forecast as he addressed the quarterly media briefing at the PIOJ’s New Kingston offices on November 19.
  • The positive growth projection is predicated on the strengthening of productive activities in most industries from the continued implementation of major growth-inducing projects.

The economy is expected to record growth of between 0.5 per cent and 1.5 per cent for the October to December 2015 quarter.

Director General of the Planning Institute of Jamaica (PIOJ), Colin Bullock, gave the growth forecast as he addressed the  quarterly media briefing at the PIOJ’s New Kingston offices on November 19.

The positive growth projection is predicated on the strengthening of productive activities in most industries from the continued implementation of major growth-inducing projects.

Among these are construction and renovation activities in Business Process Outsourcing (BPO) and tourism, as well as implementation of energy-related projects.

Mr. Bullock said there is expected to be strengthening of the manufacture industry, driven by higher levels of productivity due to increased petroleum production.

He said that activities in the tourism sector will be boosted during the remainder of the quarter, due to the addition of room stock relative to the corresponding quarter of 2014.

He noted as well that agriculture, forestry and fisheries are expected to rebound as a result of the continued expansion in output of domestic crops from agro parks.

In addition, there will be continued stability in prices associated with increased food production and the lower cost of energy.