~ Pandemic restrictions and reduced tourism challenged economic growth ~
Today, the Minister for the Cabinet Office, the Hon. Wayne Furbert, JP, MP, released the Quarter 3, 2020 Quarterly Gross Domestic Product (GDP) by Expenditure publication; and he stated that due to restricted economic activity caused by mitigation efforts to contain the spread of COVID-19, there was a decrease in the third quarter GDP.
Minister Furbert explained, “After adjusting for inflation, the GDP in constant prices for the third quarter decreased by 5.9 per cent to $1,437.0 million.