Jamaica recorded largest quarterly economic decline since COVID-19 pandemic in October to December period last year

Jamaica recorded its largest quarterly economic decline since the COVID-19 pandemic in the October to December period last year.

There was a 7.5% contraction compared to the corresponding period in 2024.

The data was presented by Director General of the Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry, during the PIOJ quarterly review of the economy this morning.

Dr. Henry noted that although this represents the largest decline in recent years, the outcome was still better than earlier projections, which had anticipated a sharper contraction in the economy.

He said there was a better than initially anticipated outturn of some industries, partially reflecting the resilience and industriousness of businesses and individuals in rebuilding following the shock.