Date: August 8, 2018 Jamaica’s Net International Reserves (NIR) totaled US$3,149.48 million as at July 2018, reflecting an increase of US$13.99 million relative to the US$3,135.49 million reported as at the end of June 2018 (see figure 1). Changes in the NIR resulted from an increase in Foreign Assets of US$13.32 million to total US$3,700.72 million
August 08, 2018 The U.S. Bureau of Economic Analysis indicated that, “Real Gross Domestic Product (GDP) increased at an annual rate of 4.1 percent in the second quarter of 2018 relative to a 2.2 percent increase in real GDP for the first quarter.” The report mentioned that due to positive contributions from personal consumption expenditures
August 07, 2018 The U.S. Bureau of Economic Analysis indicated that, “The U.S. monthly international trade deficit increased in June 2018. The deficit increased from $43.2 billion in May (revised) to $46.3 billion in June, as exports decreased and imports increased.” The report mentioned that the previously published May deficit was $43.1 billion. In June,
August 03, 2018 According to the latest report published by Eurostat, the statistical office of the European Union, “In June 2018 compared with May 2018, the seasonally adjusted volume of retail trade increased by 0.3% in the euro area (EA19) and remained unchanged in the EU28.” However, in May, the retail trade volume increased by
Date: August 2, 2018 Based on the latest information received by the Federal Open Market Committee (FOMC) since June, the FOMC has noticed strengthening in the labour market coinciding with rising economic activity. Based on the FOMC, Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. Strong
Date: August 2, 2018 Government Operations Results for June 2018 For the period of April 2018 to June 2018, the GOJ reported Total Revenues & Grants of $140.68 billion, $596 million more than the Government’s projection. Furthermore, year over year, this represents an increase of approximately 11.8% relative to the $125.84 billion recorded for the
Brent Oil Brent oil prices increased by 1.49% or US$0.65, as prices fell this week. Oil traded on August 2, 2018 at a price of $73.40 per barrel relative to US$74.51 last week. Brent oil began the year at US$68.07 per barrel. Petrojam prices 87 Octane prices increased week over week, by 1.93% (JMD$2.60). Additionally,
August 02, 2018 According to the latest report published by Eurostat, the statistical office of the European Union, “In June 2018, compared with May 2018, industrial producer prices rose by 0.4% in both the euro area (EA19) and the EU28.” However, in May 2018 there price increased by 0.8% in the euro area while in
July 30, 2018 The U.S. Bureau of Economic Analysis indicated that, “The U.S. direct investment abroad position, or cumulative level of investment, increased $427.3 billion to $6,013.3 billion at the end of 2017 from $5,586 billion at the end of 2016.The increase mainly reflected a $243.6 billion increase in the position in Europe, primarily in
Date: July 26 ,2018 BOJ Modernisation As Jamaica aims to maintain fiscal discipline and macroeconomic stability, recently appointed Minister of Finance and Public Services, Honourable Dr. Nigel Clarke, announced the implementation of Jamaica’s second pillar, the modernisation of the Bank of Jamaica (BOJ). He highlighted today that this particular decision of institutional reform stemmed from
