Jamaica’s Economic Growth to Remain Weak, Central Bank Says

Jamaica’s economic growth will remain weak through the end of this year as the government cuts spending and a global slowdown damps mining exports, the Central Bank said.

Economic expansion “remained flat” last quarter after contracting 0.1 percent in the first three months of 2012, according to report published today on the bank’s website.

The Caribbean’s second-biggest economy faces “continued weakness in domestic and global demand” as well as an “austere fiscal policy” to lower debt that will keep growth flat, the report said.

To contact the reporter on this story: Eric Sabo in Panama City at esabo1@bloomberg.net

To contact the editor responsible for this story: Philip Sanders at psanders@bloomberg.net