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Fri, 18 May 2012

PIOJ Reports 0.5% Fall in Q3 GDP Print E-mail
The Planning Institute of Jamaica, PIOJ, says Jamaica’s real Gross Domestic Product (GDP) fell by 0.5% for the third quarter (July – September 2010) when compared to the corresponding period in 2009.

The PIOJ attributes this to a two percent decline in the goods producing sector and a 1.4% decline in the services sector.

The Planning Institute of Jamaica reported that real GDP for the nine-month period to September 2010 with both the goods and services industries showing reductions of 1.6% and 1.3% respectively.

All goods-producing sub-sectors, with the exception of Agriculture, Forestry and Fishing and Mining declined in output.

The Manufacturing industry declined by 3.6% followed by the Construction sector which fell by 1%.

Lower production of sugar, molasses, tobacco and minerals triggered the decline in Manufacturing.

On the other hand Agriculture was up six percent because of generally favourable weather conditions.
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