Despite the disruption to business activity caused by the novel coronavirus pandemic, the manufacturing and distribution sector had a relatively better March quarter than others did.

In fact eight listed companies in the sector recorded an increase in earnings during the period with five experiencing contractions while only two reported losses. The outturn for the sector was in line with the Planning Institute of Jamaica (PIOJ) estimates, which stated that the sector recorded a growth rate of 2.7 per cent.

This makes the manufacturing and distribution sector the second-best performing sector for the first quarter of 2020 behind agriculture, forestry & fishing with a 7.8 per cent increase. Meanwhile, the outturn for the financial sector was less favorable, with nine listed companies in that sector reporting losses, relative to four reporting contractions, and four reporting higher earnings.

http://www.jamaicaobserver.com/business-observer/manufacturing-and-distribution-sector-withstands-covid-19-fall-off-in-earnings-for-the-march-quarter-seprod-leads-sector-with-earnings-up-102-8-_195468