Jamaica's economy is improving.

The Planning Institute of Jamaica (PIOJ) estimates that in the first quarter of 2007, the country's GDP grew 2.0 percent when compared with the same period in 2006. Construction and commodities production led the way with growth of 2.8 percent compared with the contribution of services, which grew 1.5 percent.

These statistics were provided by the Economist Intelligence Unit (EIU) via the TMCnet website.

The EIU reported that construction grew 7.0 percent in the first quarter 2007 when compared with the first quarter 2006, and agriculture posted a 4.0 percent gain. Mining and quarrying grew 0.8 percent but manufacturing contracted minus 0.2 percent.

Citing the Jamaica Chamber of Commerce (JCC) as its source, the EIU said that consumer confidence grew strongly in the first quarter 2007 when compared with the fourth quarter 2006. The Jamaican Consumer Confidence Index rose 8.0 percent to 138.1 points, "buoyed by anticipated growth in the Jamaican economy, positive assessments of current job prospects and high expectations for future earnings."

The International Monetary Fund (IMF) shows a substantial improvement in Jamaican growth. GDP grew 2.7 percent in 2006, but only 1.4 percent in 2005. The IMF estimates GDP will be 3.0 percent higher in 2007, and 3.1 percent higher in 2008.

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