The economy of Jamaica expanded 1.3 percent year-on-year in the second quarter of 2019, following an upwardly revised 1.8 percent growth for the previous quarter. It was the weakest growth rate since the last quarter of 2017, as primary activity (-1.7 percent vs 0.3 percent in Q1); construction (-1.4 percent vs 3.4 percent); and utilities (-0.1 percent vs 1.9 percent) shrank. Also, output growth slowed in mining & quarrying (4.6 percent vs 11.1 percent); wholesale & retail trade (1 percent vs 1.3 percent); hotels & restaurants (5.8 percent vs 7.3 percent); transportation & communication (0.8 percent vs 1.2 percent) and other services (1.8 percent vs 2 percent). In contrast, manufacturing output expanded 3.3 percent, rebounding from a 1.3 percent contraction in the first quarter of the year. On a quarterly basis, the economy grew 0.1 percent, easing from a 0.3 percent expansion in the prior period. GDP Annual Growth Rate in Jamaica averaged 0.57 percent from 1997 until 2019, reaching an all time high of 4.30 percent in the fourth quarter of 2006 and a record low of -4.60 percent in the second quarter of 2009.
GDP Annual Growth Rate in Jamaica is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Jamaica to stand at 2.20 in 12 months time. In the long-term, the Jamaica GDP Annual Growth Rate is projected to trend around 2.30 percent in 2020, according to our econometric models.