Growth of 3.7 % in Construction Industry

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Jamaica News: The Statistical Institute of Jamaica (STATIN) says the construction industry grew by 3.7 per cent in the last quarter of 2018, due to increased activities in the local sector.

Director General, STATIN, Carol Coy, speaking at a press conference for the release of the March 2019 Consumer Price Index and January 2019 Labour Force Survey, in Kingston on April 16, said that for the period, there were increased activities in building construction and civil engineering, particularly in ongoing road infrastructure activities.

Ms. Coy also pointed out that there was an increase in the services industries in Jamaica.

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“Improved performance was recorded within the services industries, with the exception of electricity and water supply, which declined by 0.3 per cent. Growth was recorded for wholesale and retail trade, repairs, installation of machinery and equipment, 1.6 per cent; hotels and restaurants, 2.8 per cent; transport, storage and communication, 1.9 per cent; finance and insurance services, 0.8 per cent; real estate, renting and business activities, 0.7 per cent and other services, 0.8 per cent,” she noted.

Ms. Coy said that, overall, preliminary estimates for the calendar year 2018 indicate that the economy grew by 1.9 per cent. “This was due to a five per cent growth in the goods-producing industries and a 0.8 per cent increase in the services industries,” she said.

 

Source: JIS News

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