THE Statistical Institute of Jamaica (Statin) released final gross domestic product (GDP) figures for the fourth quarter of 2021 showing the recovery from the pandemic-induced economic contraction is well underway.

The data show expansion in the fourth quarter was measured at 6.7 per cent. This was the sixth-consecutive quarter of expansion since a 15.9 per cent decline in the first quarter after Jamaica recorded its first case of the novel coronavirus in March 2020.

Statin said the growth was led by continued buoyancy in the tourism sector. The only sectors dragging on the recovery were the mining sector which declined 60.7 per cent, chiefly due to the shutdown of the Jamalco plant after last August’s fire and the manufacturing sector which dipped by 2.2 per cent.

https://www.jamaicaobserver.com/business-report-daily-biz/recovery-continues_247631