Jamaica GDP Growth Eases in Q4

The economy of Jamaica advanced by 1.7 percent year-on-year during the fourth quarter of 2023, decelerating from the 2.1 percent growth in the previous quarter.

This marked the eleventh consecutive period of yearly growth, supported by both goods and services-producing industries as the economy continued its recovery from the pandemic's impact.

Growth was observed in hotels and restaurants (8.3 percent vs 7.8 percent in Q3) and Agriculture, Forestry & Fishing (2.6 percent vs -8.1 percent), while Transportation & Communication (2.1 percent vs 5.6 percent) and Mining & Quarrying (21.5 percent vs 164.2 percent) expanded at slower rates.

However, construction (-3.8 percent vs -0.7 percent) declined at a faster pace.

On a seasonally adjusted quarterly basis, the Jamaican economy grew marginally by 0.1 percent, compared to a 1.2 percent increase in the previous period.