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  • #1

    Growth momentum continues

    The Planning Institute of Jamaica (PIOJ) in its latest preliminary data on gross domestic product (GDP) performance has estimated growth of 5.7 per cent during the April-June quarter.

    Director general of the PIOJ Dr Wayne Henry, speaking at a quarterly briefing on Thursday, said that growth was largely influenced by the continued removal of COVID-19 containment measures, increases in agricultural output, improvements in the markets of main trading partners along with improved consumer confidence and employment.

    The dominant services sector which grew by 7.7 per cent benefited from higher real value added across all industries. The hotels and restaurant industry accounting for the lion share of growth in the sector recorded outturns of 55.4 per cent, largely driven by sharp increases in visitor arrivals from major source markets. According to data presented, foreign national arrivals from April to May amounted to 399, 310 visitors — an increase of 110 per cent. Other industries recording strong growth across this sector were other services, up 25 per cent, transport, storage and communication, up 10 per cent as well as wholesale, retail trade and repairs and installation of machinery, up 5.8 per cent.

    https://www.jamaicaobserver.com/busi...tum-continues/
    Hey .. look at the bright side .... at least you're not a Liverpool fan! - Lazie 2/24/10 Paul Marin -19 is one thing, 20 is a whole other matter. It gets even worse if they win the UCL. *groan*. 05/18/2011.MU fans naah cough, but all a unuh a vomit?-Lazie 1/11/2015
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  • #2
    Context is everything ....."Consequently, the PIOJ's projection is for growth in output within the range of 3-5 per cent for the full FY2022/23. It must however be noted that the economy is not expected to attain pre-COVID GDP levels until FY2023/24," Henry stated.
    THERE IS ONLY ONE ONANDI LOWE!

    "Good things come out of the garrisons" after his daughter won the 100m Gold For Jamaica.


    "It therefore is useless and pointless, unless it is for share malice and victimisation to arrest and charge a 92-year-old man for such a simple offence. There is nothing morally wrong with this man smoking a spliff; the only thing wrong is that it is still on the law books," said Chevannes.

    Comment

    • #3
      What is the context? The fact is the economy is recovering good. Man other countries have been dented in the last two years and are not seeing any forward progression.
      • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

      Comment

      • #4
        Who cares about another man's house when you have your own to tend to ! . Alot of headwinds are in front of us , everything will slow down based on inflation and it's not reserved to the USA . If Americans arent spending money as freely as they should , the world feels it , especially little islands like Jamaica.

        I see no projection in that rosy forecast, maybe you with your knowledge on economics and penmanship can scribble the ramifications?
        THERE IS ONLY ONE ONANDI LOWE!

        "Good things come out of the garrisons" after his daughter won the 100m Gold For Jamaica.


        "It therefore is useless and pointless, unless it is for share malice and victimisation to arrest and charge a 92-year-old man for such a simple offence. There is nothing morally wrong with this man smoking a spliff; the only thing wrong is that it is still on the law books," said Chevannes.

        Comment

        • #5
          The world not level. While some people feel it more the countries who better plan and use their brains will feel it less. More people spending less on long travel to Asia and Europe may mean more travel and more goods and investment in the region. You just have to try take advantage.
          • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

          Comment

          • #6
            My laaaaawd , this one is up there with tourism is a bigger economic driver in the world than technology.
            Have you heard about remittances, you think traveling is the only way money is spent on the global stage. The article listed various industries that could be impacted, some they didn't even factor in , your general statement is weak and vague . But hey I expected it.
            THERE IS ONLY ONE ONANDI LOWE!

            "Good things come out of the garrisons" after his daughter won the 100m Gold For Jamaica.


            "It therefore is useless and pointless, unless it is for share malice and victimisation to arrest and charge a 92-year-old man for such a simple offence. There is nothing morally wrong with this man smoking a spliff; the only thing wrong is that it is still on the law books," said Chevannes.

            Comment

            • #7
              Well the goal is to transfer the economy from a remittance driven account. That is why I preach development. not to diminish remittance but to develop the economy is not one of our biggest stream of income but just another one. Again you are changing my words but that is what you do. I said travel and tourism is one the biggest driver of technology.
              • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

              Comment

              • #8
                Yeah,thats why the whole site came down on you, because your words were all over the place, had you jumping through hoops. The Jamaican economy better hope and pray it gets back to pre pandemic levels and that was when we had interest rates at 3 % and oil at $60 a barrell in the USA. The context is remitances were flowing back to JA, construction was booming, call centers were popping up and tourism was breaking ground every day with construction and arrival numbers, if i remember correctly Port Royal just landed a cruise ship. This winter will be the telling, I pray we have a warm winter in europe and you as a so called student of economics havent a clue as per the ramifications, if you did you would have voiced all what I just stated.

                Enjoy this and lighten the mood .

                https://www.youtube.com/watch?v=h-wYeU49_pQ
                THERE IS ONLY ONE ONANDI LOWE!

                "Good things come out of the garrisons" after his daughter won the 100m Gold For Jamaica.


                "It therefore is useless and pointless, unless it is for share malice and victimisation to arrest and charge a 92-year-old man for such a simple offence. There is nothing morally wrong with this man smoking a spliff; the only thing wrong is that it is still on the law books," said Chevannes.

                Comment

                • #9
                  The fact is they are fielding a lot of calls for call centers and tourism. This doesn't depend on remittance. They are field a lot of calls for farm in St.Catherine and Clarendon. All we have to do continue to attract business and manage the economy properly, Since the Pandemic Jamaica has been one of the leading country in the Caribbean in terms of growth. Our export has been growing and that is what we need. https://jis.gov.jm/jamaicas-economy-...from-covid-19/
                  • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

                  Comment

                  • #10
                    Who says they arent, did you miss my point ?
                    THERE IS ONLY ONE ONANDI LOWE!

                    "Good things come out of the garrisons" after his daughter won the 100m Gold For Jamaica.


                    "It therefore is useless and pointless, unless it is for share malice and victimisation to arrest and charge a 92-year-old man for such a simple offence. There is nothing morally wrong with this man smoking a spliff; the only thing wrong is that it is still on the law books," said Chevannes.

                    Comment

                    • #11
                      The topic by Jangle is "continued growth", you share your pessimism about it. However what I am saying is if the right thing is done we can still continue to grow. The right thing is to find ways to grow the economy where remittance is just a part of it.
                      • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

                      Comment

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