Macroeconomic Forecast Jamaica

May 2007 | Macroeconomic Forecasts

BMI View: The Bank of Jamaica (BoJ) in early May reiterated its real GDP growth forecast of between 2.5-3.5% in the current fiscal year (FY07/08), which runs from April 1 to March 31. However, the bank the downplayed initial estimates of growth of nearly 3.0% in FY06/07 - putting it closer to 2.5% - as an apparent slowdown in manufacturing activity and tourism put a crimp on growth in the fourth quarter. We track calendar year GDP, and our estimates are roughly in line with the BoJ's: we estimate that growth came in at around 2.7% in 2006, and will

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