Consumption in Jamaica

Jamaica Consumption | Economic News & Forecasts

Jamaica - Consumption

After contracting for the fifth consecutive quarter in Q1, underlying momentum remained fairly downbeat in the second quarter, although the year-on-year growth reading, when published, is likely to benefit from a base effect. Tourist arrivals were down by around 60% compared to Q2 2019, while the curfew was tightened in April. This will have weighed on the economy and offset a potential boost from household consumption coming from growth in remittances in April–May, which came amid a tighter U.S. labor market. Turning to Q3, prospects for the economy are dim. A third wave of Covid-19 cases hit the country in mid-July. Since then, the epidemiological situation has gone from bad to worse: A series of lockdowns were imposed from late August and the U.S. government recently advised against travel to the country, at the cost of Jamaica’s tourism industry.

Jamaica - Consumption Data

2015   2016   2017   2018   2019  
Consumption (annual variation in %)-0.1  0.1  1.1  0.7  -     

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