World Economy

Jamaica Economy Turns Positive

Jamaica Economy Turns PositiveJamaica Economy Turns Positive

Jamica’s economy just edged into positive territory with a weak growth rate of 0.3% in the 2015 first quarter -- following consecutive quarter declines last year, but the country could see another contraction over the April to June period, according to the Planning Institute of Jamaica (PIOJ), NewsNow reported. The country’s growth was less than the marginal rate of between 0.5 and 1.5% previously anticipated by the PIOJ, which had based the prospects on the continued strengthening of productive activities, particularly in the goods-producing industries. However, while the first-quarter growth saw a slight increase of 0.6% in the services industry, that was offset by the goods-producing industry shrinking by a projected rate of 0.7%.