Jamaica Economy Contracted 0.9% in 4Q

[Hortical]

Jamaica Economy Contracted 0.9% in 4Q From Year Earlier
By Bill Faries - Mar 28, 2013 5:24 PM ET

Statistics agency says GDP contraction was 0.9%, wider than earlier reported by Finance Ministry. Contraction led by 3.9% decline in industrial production Hurricane Sandy impact of $9.7 bln also hurt economy

NOTE: Jamaican dollar has tumbled 5.7% YTD, the worst performance among 21 economies in Central America and Caribbbean.

To contact the reporter on this story: Bill Faries in Miami at wfaries@bloomberg.net

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Bloomberg

[Lazie]

Jamaica Economy Contracted 0.9% in 4Q From Year Earlier
By Bill Faries - Mar 28, 2013 5:24 PM ET

Statistics agency says GDP contraction was 0.9%, wider than earlier reported by Finance Ministry. Contraction led by 3.9% decline in industrial production Hurricane Sandy impact of $9.7 bln also hurt economy

NOTE: Jamaican dollar has tumbled 5.7% YTD, the worst performance among 21 economies in Central America and Caribbbean.

To contact the reporter on this story: Bill Faries in Miami at wfaries@bloomberg.net

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Bloomberg

Well, it is what the people want. As soon as the country was out of the recession, the masses decided that it was better for Portia to take over.

[Rockman]

Is Sandy artificial,is Portia responsible for natural disasters too?
I think she is being treated unfairly, under the dynamics of governing, she is her supporting cast,mind you the same boyz from the old club.
It all started when it was said she was not of the same cloth as previous PM, as if the fabric of their leadership was silky smooth.
The Minister of Finance is one of the most hardened politicians I know of, the only time I saw him(almost)brought to tears was an issue with the IMF at its heart.
Make no mistake,it isn't so much a hard pill to swallow, it is a poisonous one.

[Rockman]

Funny, I was a Braeton when Portmore residents were told to evacuate the death trap because of the coming hurricane.I believe Mr. Seaga was the PM, and needed aid flooded through.
I wonder how much the economy contracted then?

[Assasin]

the economy contracted all of last year. Not just Sandy. When hurricane under JLP weren't they criticised as well?

Some how we have all the excuses for missed target. The finance Ministry numbers was wrong again? They are also predicting growth in the next quarter. Are they dreaming???

[Lazie]

Is Sandy artificial,is Portia responsible for natural disasters too?
I think she is being treated unfairly, under the dynamics of governing, she is her supporting cast,mind you the same boyz from the old club.
It all started when it was said she was not of the same cloth as previous PM, as if the fabric of their leadership was silky smooth.
The Minister of Finance is one of the most hardened politicians I know of, the only time I saw him(almost)brought to tears was an issue with the IMF at its heart.
Make no mistake,it isn't so much a hard pill to swallow, it is a poisonous one.

Rockman, you seem willing to buy any excuse. When there was a world recession, Jamaica held it's own, now that many countries are growing again, we have gone right back into a recession. You can mek excuse for Portia, Jamaicans are the only people that would elect an unthinking person to lead in a time like this.

As for Peter and his crocodile tears .... di man realize him tek up what him cannot manage. When he was constantly bad mouthing those that were in charge, many were fooled into thinking he knew what he was talking about.

The fact is, it is the incompetence of the current adminisrtration that is causing the decline again. People Power.

[Assasin]

You remember Portia big word? "the JLP is the recession". You could have corrected her then and say it was a real recession. LOL

[Rockman]

Lazie, there are two possible explanations, I am picking up for Portia or you are predisposed to faulting Portia.
I have supported my view,is it unprecedented that an economy contracts after a natural disaster, and isn't the problem with Portia her not surrounding herself(good morning gamma!)with competent people(would any other choice really rid the PNP of the of old club members).
Again, I not only think she is aggrieved but provided reasons why,now I must ask you the reasons for your thinking I am making excuses for Portia?

[Lazie]

Lazie, there are two possible explanations, I am picking up for Portia or you are predisposed to faulting Portia.
I have supported my view,is it unprecedented that an economy contracts after a natural disaster, and isn't the problem with Portia her not surrounding herself(good morning gamma!)with competent people(would any other choice really rid the PNP of the of old club members).
Again, I not only think she is aggrieved but provided reasons why,now I must ask you the reasons for your thinking I am making excuses for Portia?

Rockman, it simple. Pay attention to the economic data since Portia took office. Compare it to the previous gov't. Damn it ... pay attention to movement of the currency under both admins. Come on now dude ...

[Lazie]

You remember Portia big word? "the JLP is the recession". You could have corrected her then and say it was a real recession. LOL

Behave yuhself ... on her visit to Canada she did acknowledge the previous gov't faced a recession. When Cliff Hughes asked her why she can talk like that in Canada and not in Jamaica she said she cannot play politics on an overseas trip.

[Rockman]

If it contracted under the holier than thou JLP,why fault her?
It is the norm that those estimates are inaccurate, furthermore, it has to do with her supporting cast,likely to be the same whether or not she was the leader.

[Rockman]

Is this a condemnation of the PNP or Portia?
Economic figures are attributed to Finance Ministers, are there no consequence to natural disasters...,is she being treated unfairly?

[Assasin]

Well she need to get rid of the supporting cast. She is the leader right?

It happen under the JLP yes when people were saying it was a recession at the time and the economy was contracting Portia said more than once "the JLP is the recession"

I can empathise with her because of the hurricane but what about all of last year? and what is she doing to rectify it? Don't tell about JEEP, and you nuh want hear about IMF.

[Lazie]

Is this a condemnation of the PNP or Portia?
Economic figures are attributed to Finance Ministers, are there no consequence to natural disasters...,is she being treated unfairly?

Rockman, easy wid the spin. Who is the PM? A natural disaster cause the slide (if yuh can call it dat) of the dollar? How does the decline of the dollar impact the spending power of the consumer?

It is amusing how quickly people are willing to excuse the incompetence of this gov't. Unuh nuh serious.

[Rockman]

My gripe is not with the PNP being labeled incompetent but with Portia being criticized unfairly.
Sure she is the PM, but would any other PM make the needed changes?
Those people did not just drop suddenly out of the sky, they were there before and likely will be there under a different leadership too.
She is being called the worst for not making unprecedented moves(the likes befitting of the best).