Growth in construction sector during January to March quarter - BOJ

The Bank of  Jamaica has announced that the construction sector recorded growth during the January to March quarter this year. This was in keeping with a trend observed since the March 2013 quarter. 

 

The Central Bank says the industry's performance occurred in a context of  infrastructural projects under the Major Infrastructural Development Programme and greater expenditure on hotel projects. Economic activity in the industry was however moderated by lower expenditure on some major infrastructure projects, particularly Highway 2000, as well as a contraction in housing starts by the National Housing Trust.

 

During the first three months of  this year there was also marginal growth in the Mining and Quarrying sector, in contrast to declines for the preceding three quarters. 

 

The BoJ, in its quarterly monetary policy report, said the industry's performance was underpinned by marginal increases in alumina and crude bauxite production. This resulted from increased utilisation at one alumina plant.

 

Regarding crude bauxite, the expansion for the March 2015 quarter continued the upward trend, evident since the March 2014 quarter, although at a pace significantly below the average growth recorded in the previous three quarters.