PIOJ cuts recovery timeline as economy contracts 2.9 per cent in June quarter

Jamaica’s economy contracted 2.9 per cent in the April to June quarter, but the Planning Institute of Jamaica (PIOJ) has shortened its projected recovery timeline to two years, from three. “Given the pace of recovery so far, the current expected timeline for attaining pre-Melissa output levels is now within one and a half to two years of the event, that is, as early as the April to June quarter of 2027,” PIOJ Director General Dr Wayne Henry said at the organisation’s quarterly media briefing…