December 18, 2020 Consumer Price Index – November 2020 According to the Statistical Institute of Jamaica (STATIN) the consumer price index for November 2020 was 107.6 resulting in an inflation rate of 0.6%, when compared to the previous month’s 106.9 price index. Notably, STATIN indicated that the main contributor to this increase was a 1.7%
December 18, 2020 BANK OF JAMAICA HOLDS POLICY RATE Bank of Jamaica (BOJ) announces its decision to hold the policy interest rate (the rate offered to deposit-taking institutions on overnight placements with BOJ) unchanged at 0.50 per cent per annum. Bank of Jamaica has kept the policy rate at this historic low of 0.50 per
December 16, 2020 On December 16, 2020, the Federal Reserve reiterated its commitment to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. Though the novel Corona virus continues to cause tremendous hardship across the United States and around the
December 14, 2020 The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% for November 2020 after remaining unchanged in October, on a seasonally adjusted basis according to U.S. Bureau of Labor Statistics (BLS). The all items index rose 1.2% before seasonal adjustment over the last year. BLS stated, “seasonally adjusted increase in the
December 11, 2020 Jamaica’s Net International Reserves (NIR) totalled US$2,962.76 million as at November 2020, reflecting an increase of US$69.46 million relative to the US$2,893.31 million reported at the end of October 2020 (see figure 1). This change in the NIR resulted from a US$72.70 million increase in Foreign Assets which total US$3,932.33 million compared
December 10, 2020 The seasonally adjusted initial claims, advance estimate, increased by 137,000 to 853,000 for the week ending December 5, from the prior week’s revised level, according to the U.S. Department of Labour (DOL). The prior week’s level was revised from 712,000 to 716,000 up by 4,000. In comparison to the previous week’s average, the 4-week moving average
December 8, 2020 Nonfarm Business Sector Nonfarm business sector labour productivity inched up 4.6% in the third quarter of 2020 as output rose 43.4% and hours worked climbed 37.1%. Bureau of Labour Statistics noted that, “the 4.6-percent gain in productivity in the third quarter follows an increase of 10.6% during the second quarter. Over the
December 07, 2020 The U.S. Bureau of Economic Analysis indicated that, “the goods and services deficit was $63.1 billion in October, up $1.0 billion from $62.1 billion in September, revised.” October exports amounted to $182.0 billion, which was more than September exports by $4.0 billion, whereas, October imports amounted to $245.1 billion which was $5.0 billion more than
December 04, 2020 Total nonfarm payroll employment climbed 245,000 in November, as the unemployment rate fell to 6.7%, according to a report by the U.S. Bureau of Labour Statistics (BLS). The improved performance was due to the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to
December 2, 2020 Government Operations Results for October 2020 For the period of April to October 2020, the GOJ reported Total Revenues & Grants of $298.68 billion, $2.88 billion more than the Government’s projection. This represented a decrease of approximately 16.7% relative to the $358.76 billion recorded for the corresponding period in 2019. ‘Tax Revenue’,
