The latest numbers released by the Planning Institute of Jamaica (PIOJ) have revealed that the economy of the island-nation contracted by an estimated 0.6 percent in the period October to December 2012, which translates to a 0.3 percent decline in real gross domestic product (GDP) for the year 2012.
The contraction in the economy is attributed to a weak global economic environment, adverse weather conditions - the prolonged effect of drought which affected the productivity of crops,
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