Published: Monday December 14th, 2020
The Central Bank of The Bahamas is pleased to announce the release of its Quarterly Economic Review for the third quarter of 2020. The Review provides an examination of the performance of the domestic economy, as well as sectoral developments, principally during the period July to September.
Domestic economic developments continued to be driven by the Novel Coronavirus (COVID-19) pandemic, which negatively impacted economic activity during the third quarter of 2020. In particular, the global lockdown impeded tourism sector output, with both the high value-added air segment and dominant sea traffic remaining largely offline over the review quarter. Nevertheless, the restart of foreign investment projects, and to a lesser extent continued post-hurricane rebuilding works, provided some stimulus to the construction sector. In price developments, domestic inflationary pressures remained contained over the review period, underpinned by the reduction