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<span style="font-weight: bold">News Source: OTGNR - </span>
<span style="font-weight: bold"> Confirmed : # Financial expert says # Jamaican_economy slowly picking up ( RJR )...</span>
With Christmas shopping now hitting its peak, one financial expert believes there are signs that the economy is slowly picking up.Managing Director of the Investors Choice Magazine, John Jackson, says the amount of money in circulation paints only a part of the picture of true spending patterns this year.Earlier this week information from the Bank of Jamaica showed that Jamaicans squeezed by the depressed economy, have cut back on their demand for currency this Christmas.But Mr. Jackson feels that based on other factors, the conclusion can be drawn that spending is picking up this year and will increase in 2011."What I will say is that from that data, the increased money in circulation in the period, what I would say is that there is other evidence outside there that indicates that there some level of picking up in the wider economy and that bodes well not just for this particular period but I think for the next year that we are going to face," Mr. Jackson said.According to the Bank of Jamaica, the amount of money put into the economy last week to help meet Christmas shopping, rose by $4.3 billion.However that was 39% below the $7 billion that the BOJ had expected to issue. The figures showed that consumers are cutting back expenditure faster than anticipated.
<span style="font-weight: bold"> Confirmed : # Financial expert says # Jamaican_economy slowly picking up ( RJR )...</span>
With Christmas shopping now hitting its peak, one financial expert believes there are signs that the economy is slowly picking up.Managing Director of the Investors Choice Magazine, John Jackson, says the amount of money in circulation paints only a part of the picture of true spending patterns this year.Earlier this week information from the Bank of Jamaica showed that Jamaicans squeezed by the depressed economy, have cut back on their demand for currency this Christmas.But Mr. Jackson feels that based on other factors, the conclusion can be drawn that spending is picking up this year and will increase in 2011."What I will say is that from that data, the increased money in circulation in the period, what I would say is that there is other evidence outside there that indicates that there some level of picking up in the wider economy and that bodes well not just for this particular period but I think for the next year that we are going to face," Mr. Jackson said.According to the Bank of Jamaica, the amount of money put into the economy last week to help meet Christmas shopping, rose by $4.3 billion.However that was 39% below the $7 billion that the BOJ had expected to issue. The figures showed that consumers are cutting back expenditure faster than anticipated.