5:58 pm, Thu December 31, 2020 The Jamaican economy declined by more than 10 per cent in the third quarter of 2020 when compared to the similar quarter of 2019.
The 10.7 per cent decline reported by the Statistical Institute of Jamaica (STATIN) on Thursday is lower than the Planning Institute of Jamaica's estimate last month of an eleven point three percent contraction.
STATIN said the downturn was due to declines in of 13.1 per cent in the Services industry and 3.5 per cent in the Goods Producing industry.
According to STATIN, the economy was impacted by the continued spread of the COVID-19 pandemic and the measures implemented to limit its spread.