July 7, 2010

Total value added at constant prices for the Jamaican economy declined by 0.5 per cent in the first quarter of 2010 when compared to the fourth quarter of 2009. This performance resulted from declines in both the Goods Producing and Services industries of 0.4 per cent and 0.6 per cent respectively.

All Goods Producing industries except Construction recorded lower output levels during the quarter. Agriculture, Forestry & Fishing declined by 3.3 per cent, Mining & Quarrying 1.8 per cent and Manufacture 1.2 per cent.

When compared to the first quarter of 2009, the Jamaican economy declined by 1.0 per cent. This performance reflected in part the lagged effects of the global economic crisis on the economy and is a continuation of the trend evident since the fourth quarter of 2007. The Goods Producing industries recorded lower output levels of 4.0 per cent during the period while the Services industries remained relatively unchanged.

There were some positive performances in the Services industries as Transport, Storage & Communication and Hotels & Restaurants recorded growth of 1.5 per cent and 7.1 per cent respectively.

The Quarterly Gross Domestic Product first Quarter 2010 further outlines additional information and may be obtained from the Distribution Office of the Statistical Institute of Jamaica 7 Cecelio Avenue, Kingston 10.