Headlines:
| Credit bill reduced from Jan - March |
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| Friday, 09 May 2008 | |
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Jamaicans borrowed less
money during the first three months of 2008.
Data from the
Bank of Jamaica (BoJ) shows a slow down in the demand for credit by the private
sector between January and March when compared to the two previous quarters. At the end of March, private sector credit increased by 2.7% to $171 billion. This represented a deceleration when compared to increases of 5.1% and 6.7% during the December 2007 and March 2007 quarters. Loans and advances, which comprised 97% of the stock of private sector credit, expanded by $4.5 billion or 2.8% during the review quarter relative to an increase of 5.2% in the December quarter. The BoJ said the lower outturn was consistent with reduced spending following the Christmas season. |