The Planning Institute of Jamaica (PIOJ) in its latest preliminary data on gross domestic product (GDP) performance has estimated growth of 5.7 per cent during the April-June quarter.
Director general of the PIOJ Dr Wayne Henry, speaking at a quarterly briefing on Thursday, said that growth was largely influenced by the continued removal of COVID-19 containment measures, increases in agricultural output, improvements in the markets of main trading partners along with improved consumer confidence and employment.
The dominant services sector which grew by 7.7 per cent benefited from higher real value added across all industries. The hotels and restaurant industry accounting for the lion share of growth in the sector recorded outturns of 55.4 per cent, largely driven by sharp increases in visitor arrivals from major source markets. According to data presented, foreign national arrivals from April to May amounted to 399, 310 visitors — an increase of 110 per cent. Other industries recording strong growth across this sector were other services, up 25 per cent, transport, storage and communication, up 10 per cent as well as wholesale, retail trade and repairs and installation of machinery, up 5.8 per cent.
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