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Jamaican Economy Grew By 0.1% In Real Terms For The First Quarter Of 2017

Jamaican Economy Grew By 0.1% In Real Terms For The First Quarter Of 2017

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The Statistical Institute of Jamaica (Statin) is reporting that the Jamaican economy grew by 0.1 per cent in real terms for the first quarter of 2017 when compared to the similar quarter of 2016.

This growth was due mainly to a 0.4 per cent increase in the Services industries. While there were improved performances in both the Manufacturing and Construction industries, the overall Goods Producing industries declined by 0.9 per cent.

Statin is also reporting that the Consumer Price Index for June 2017 increased by 0.7 per cent and represented the highest monthly movement for the calendar year to date.

This was due mainly to increases in the index for the three heaviest weighted divisions: ‘Food and Non-Alcoholic Beverages’ up by 1.1 per cent, ‘Transport’ 0.4 per cent and ‘Housing, Water, Electricity, Gas and Other Fuels’ up by 0.4 per cent.

All three regions recorded increases for June 2017: Greater Kingston Metropolitan Area rose by 0.9 per cent, Other Urban Areas by 0.6 per cent and Rural Areas up by 0.5 per cent.BM