February 03, 2022 The Factories Corporation of Jamaica (FCJ) has reported that Phase 1 of the Garmex Freezone Redevelopment and Expansion Project is at an advanced stage of completion. Four buildings totaling 90,000 sq ft. are now operational and will be fully operational after sewer pipes have been connected and some minor defects to the
February 2, 2022 Government Operations Results for December 2021 For the period of April to December 2021, the GOJ reported Total Revenues & Grants of $492.22 billion, $1.23 billion less than the Government’s projection. This represented an increase of approximately 23.6% relative to the $398.26 billion recorded for the corresponding period in 2020. ‘Non-Tax Revenue’
February 02, 2022 In the fourth quarter of 2021, national vacancy rates for rental housing were 5.6% and 0.9%, respectively. The rental vacancy rate was 0.9 percentage points lower than in the fourth quarter of 2020 (6.5%) and did not differ statistically from the third quarter of 2021 (5.8%). The 0.9% homeowner vacancy rate was 0.1
February 1 , 2022 The number of job openings on the last business day of December remained unchanged at 10.9 million, according to the US Bureau of Labor Statistics. The number of people hired and the number of people who left fell to 6.3 million and 5.9 million, respectively. The quit rate within separations remained
February 1, 2022 West Indies Petroleum Limited won the auction for the Limetree Bay Refinery in St Croix with a bid worth US$62 Million. West Indies Petroleum bested St Croix Energy, which had bid US$57 million for the asset and would have been selected if West Indies Petroleum had failed to make their first payment.
January 31, 2022 According to an estimate published by Eurostat, the statistical office of the European Union, for the fourth quarter of 2021 seasonally adjusted GDP for the euro area increased by 0.3% and by 0.4% in the EU, when compared with the previous quarter. It was noted, “in the third quarter of 2021, GDP
January 28, 2022 The International Monetary Fund (IMF) says “further tightening” of monetary policy may be needed if the Bank of Jamaica (BOJ) is to bring inflation down from its eight-year high. A worsening surge in consumer prices which was led chiefly by higher prices for food and transport pushed inflation to 8.5 percent in
January 27, 2022 Every month the U.S Census Bureau releases an array of statistics pertinent to the economy. For December 2021, the Bureau published statistics for the monthly movement in international trade, wholesale inventories and retail inventories. The United States of America’s international trade deficit was $101.0 billion in December, up $2.9 billion from $98.0
January 27, 2022 Gross Domestic Product, Fourth Quarter and Year 2021 (Advance Estimate) According to the Bureau of Economic Analysis' "advance" estimate, real gross domestic product (GDP) increased at a 6.9% annual rate in the fourth quarter of 2021. Real GDP increased by 2.3% in the third quarter. The growth in real GDP was driven
United States: Fed’s Hawkish Roadmap Sets the Path for Peers in Recovering Asia “Hawkish comments from Federal Reserve Chair Jerome Powell will pressure economies in Asia to accelerate their own policy tightening, even amid broadly contained inflation and mixed pandemic recovery outlooks. Throughout the region, efforts to prime economic rebounds while balancing currency and price
