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PIOJ reports negative impact to real sector growth due to COVID-19

As the novel coronavirus pandemic continues to negatively impact the prospects for gross domestic product (GDP) growth, the Planning Institute of Jamaica (PIOJ) in its latest assessment of economic activities reported contractions across all major sectors in the services and goods-producing industries.

In a quarterly briefing on Wednesday last, the country’s chief planning agency said that the economy declined by 18 per cent for the April to June quarter, four percentage points more than it had previously projected, when it estimated a 12-14 per cent decline in its outlook while reporting on the January to March quarter earlier this year.

Director general of the PIOJ, Dr Wayne Henry, said that the out-turn for the April-June quarter was as a result of the implementation of measures to manage the pandemic along with the associated impacts, ranging from border closures, restricted movements, business closures, job losses, weakened demand and reduced economic

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