Jamaica Economic Outlook
January 15, 2019Although economic growth slowed somewhat in the third quarter, the pace of expansion was still one of the highest in recent years. The mining and quarrying sector chiefly buttressed the economy, benefiting from the reopening of the Alpart refinery. Strong growth in the sector offset small contractions and moderations in other sectors. Notably, growth in the agricultural sector was flat. More positively, both short-term and long-term tourist arrivals are up in the January-October period compared to the same time a year prior; short-term arrivals, however, decreased in Q3.
Jamaica Economic GrowthA tightening labor market and robust tourism sector should support economic growth this year. Fiscal consolidation effects, however, will likely drag on economic activity. Panelists expect the economy to grow 1.9% in 2019, which is unchanged from last month’s forecast, and 1.8% in 2020.
Jamaica Economy Data
5 years of Jamaica economic forecasts for more than 30 economic indicators.
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