March 31, 2015
Total value added at constant prices for the Jamaican economy recorded a decline of 0.4 per cent in the fourth quarter of 2014 when compared to the similar quarter of 2013. This reduction in output was due mainly to a 3.9 per cent decline in the Goods Producing industries. The Services industries however, recorded an increase of 0.8 per cent. When compared to the third quarter in 2014, the economy grew by 0.6 per cent. Preliminary estimates for the calendar year 2014 indicated a growth of 0.4 per cent.
Decreased output in the Goods Producing industries was recorded in the fourth quarter of 2014 when compared to the fourth quarter of 2013. This was influenced by reduced activities in Agriculture, Forestry & Fishing (12.8 per cent), Mining & Quarrying (2.1 per cent) and Manufacturing (1.7 per cent). However the Construction industry improved by 1.3 per cent. Growth in the Agriculture, Forestry & Fishing industry was constrained by unfavourable weather conditions. Higher output levels in the Construction industry resulted from increased activities in building construction and the civil engineering group.
