PRESS RELEASE
QUARTERLY GROSS DOMESTIC PRODUCT
Second Quarter 2004

The Gross domestic for the second quarter of 2004, recently released by the Statistical Institute of Jamaica showed that the Jamaican economy declined by 0.3 percent in the second quarter of 2004 when compared to the first quarter of 2004. The Productive Sector declined by 0.9 percent while output in the Services Sector remained relatively unchanged.

The decline in the Productive Sector reflected lower output levels in the Agriculture, Forestry and Fishing, Manufacturing and Construction and Installation sectors of 0.6 percent, 1.5 percent and 0.9 percent respectively.

In the Services sector of the economy, only Electricity and water and the Miscellaneous Services Sectors recorded growth.

When compared to the June quarter of 2003 however, the Jamaican economy grew 2.7 percent as both the Productive and Services sectors recorded higher output levels. The Productive Sector increased by 4.0 percent as Mining and Quarrying, Manufacturing and Construction and Installation grew by 8. 5 percent and 1.1 percent respectively. Additionally Agriculture, Forestry and Fishing however declined by 1.6 percent.

The Services Sector grew by 2.0 percent reflecting increased output in all sectors in all sectors except for Finance and Insurance Services.

Additional information may be obtained from the Distribution Center Located at 7 Cecelio Avenue Kingston 10.