Today we are reporting that real Gross Domestic Product (GDP) in the Jamaican economy grew by an estimated 0.8 per cent in the April to June 2015 quarter compared with the corresponding quarter of 2014.
The out-turn for the April to June 2015 period largely reflected:
- the positive impact of continued strengthening of the global economy on some of the major industries, (Hotels & Restaurants; Transport, Storage & Communication; and Mining & Quarrying);
- An improvement in domestic demand resulting from the strengthening of both Business and Consumer confidence levels; and
- The intensification of road rehabilitation and repair works and highway construction (Phase 1 and Phase 3 of the North-South link of Highway 2000); hotel construction and expansion works; and the construction of new office space to facilitate the expansion of Business Process Outsourcing (BPO) activities.