Business
Jamaica: All major indices point to positive economic growth in 2011
The rise in ‘other manufacture’ was influenced mainly by a boost in petroleum and chemical production. “The increased petroleum production should be viewed against lower production in the corresponding period of 2010, as the refinery was not fully operational for the entire quarter,” the PIOJ director general said.
Dr Hutchinson said construction grew 1 percent during the quarter, attributable mainly to road projects being executed under the Jamaica Development Infrastructure Programme (JDIP), in addition to the Palisadoes roadway and the Sandy Bay to May Pen phase of Highway 2000.
Also contributing to growth in the construction sector was expansion in residential construction activity, influenced primarily by a 152.7 percent increase in housing starts.
Hutchinson reported that all industries within the services sector, except finance and insurance which decreased by 0.5 percent, and transport, storage and communication, down 2.4 percent, recorded growth.
The decline in the transport and storage component reflected the impact of the final transfer of Air Jamaica assets to Caribbean Airlines in July 2011.
Within the services sector, the largest increase was electricity and water supply, up 3.4 percent.
For calendar year 2011, the sectors contributing most to the overall 1.5 percent growth were mining and quarrying, up 20.2 percent, and agriculture, forestry and fishing, up 11 percent.
