• Follow us

Economy

GDP Increased 3.7% In First Quarter Of 2019 - Bernews

Minister for the Cabinet Office Wayne Furbert released the first quarter Quarterly Gross Domestic Product [GDP] publication from the Department of Statistics.

The Minister explained, “After adjusting for inflation, the GDP in constant prices for the first quarter increased 3.7%

“The growth in the first quarter was driven mostly by an increase in capital formation related to new residential construction, civil works such as road and bridge refurbishments, as well as continued work on the power station construction, airport project and hotel development.

“Investment in machinery and equipment also increased during the period. The public is advised to read the concepts and definitions on the last page of the publication prior to reviewing the data.”

Chart extracted from the report:

CURRENT ACCOUNT - Google Chrome 29082019 52341 PM

Highlighted below are the year-over-year changes in the quarterly GDP components:

Household final consumption increased 0.5%.Government final consumption increased 1.2%.Gross capital formation increased 17.5%.The external balance on trade in goods and services increased 3.8%

The full Quarterly Gross Domestic Product publication follows below [PDF here]:

Share via emailRelated Stories

Read More About

#BermudaBusiness

Category: All, Business, News

Read More



Leave A Comment

More News

Business

Designed for Impact conference returns 2019-08-30 08:00:00Glenda Hatchett, renowned judge, board member and TV celebrity, will be the keynote speaker for this year's Designed for Impact conference.The confer

Businesses display support for Pride 2019-08-30 08:00:00Small and large business in Bermuda have pledged their support for the island's first Pride Parade.The Facebook page of the Bermuda Pride Supporters

Belco tackling issue of long billing months 2019-08-30 08:00:00You're not seeing things when your monthly Belco bill charges for more than a month's worth of usage.In some instances, those additional days can ti

Grocery delivery service attracts 500 users 2019-08-30 08:00:00DropIt Delivery, the island's new grocery delivery business, has announced revised pricing for its cost-saving annual membership.The service, which e

Ascendant shares surge 13.3% 2019-08-29 17:40:00Shares of Ascendant Group Ltd surged 13.3 per cent on light volume in Bermuda Stock Exchange trading.The company, which owns power utility Belco, clim

AAC and Ptix combine skills in merger 2019-08-29 08:00:00Advertising agency AAC and online ticketing and events solution company Premier Tickets Ltd have merged.Based at AAC's offices at 29 Front Street, th

GDP grows at fastest rate since 2015 2019-08-28 18:57:00First-quarter gross domestic product rose 3.7 per cent, after being adjusted for inflation, in the first quarter of this year.It was the fastest growt

Retail sales tumble 4.4% 2019-08-28 18:53:00Monthly retail sales volume fell for the fourteenth time in 15 months, dropping 4.4 per cent year-on-year in May.This was the figure when adjusted for

All quiet on the BSX 2019-08-28 18:17:00No stocks traded on the Bermuda Stock Exchange as The Royal Gazette/BSX Index closed unchanged on 1,919.37.Butterfield Bank's US-listed shares fell 2

Garside promoted at Liberty Specialty Markets 2019-08-28 10:17:00Nicholas Garside has been promoted to head of Bermuda property at Liberty Specialty Markets, which is part of Liberty Mutual Insurance Group.He takes

Tourists 'shop to win' in St George's 2019-08-28 08:00:00Spending by cruise ship visitors in St George's has been stimulated by an innovative shop-to-win promotion launched by the Bermuda Economic Developme

Deserted, overgrown: Arbitrade's global HQ 2019-08-28 08:00:00Weeds are taking over the steps to Victoria Hall, the seven-storey office building acquired by crypto company Arbitrade ten months ago.The $6.5 millio

Bernews.com » Business

Bermuda Stock Exchange Report: Sept 12 2019 2019-09-13 05:15:54September 12 saw 6,200 shares trade on the Bermuda Stock Exchange, valued at $23,900.00 BD. 200 shares were traded by Bank of N.T. Butterfield Ltd, cl

Martha Dismont To Retire From Family Centre 2019-09-12 20:51:58Family Centre today [Sept 12] announced that Martha Dismont, the organization’s Founder and Executive Director, has decided to retire effective

Video: Bermuda First Press Conference 2019-09-12 10:45:31[Updated] Bermuda First is holding a press conference this morning [Sept 12] to “provide an update and details on the prioritized critical recom

Hamilton Princess Promotes D’Esta Ascento 2019-09-12 10:15:34Hamilton Princess & Beach Club has promoted D’Esta Ascento to the newly created role of Assistant Director of Engineering. Ms Ascento, a Ber

Clarien Bank Welcomes Sean Moran As SVP 2019-09-12 09:26:32Clarien Bank today announced the appointment of Sean Moran as Senior Vice President, Head of Business Development. With more than 20 years’ expe

Bermuda Stock Exchange Report: Sept 11 2019 2019-09-12 05:15:23September 11 saw 1,425 shares trade on the Bermuda Stock Exchange, valued at $44,588.75 BD. 1,200 shares were traded by Ascendant Group Limited, closi

RA Invites Feedback On Preliminary Report 2019-09-11 20:59:44The Regulatory Authority has conducted the analysis of its proposed Principles of Consumer Protection and invites the public to provide feedback on th

BTA: Enrolment For National Service Standards 2019-09-11 14:24:01Hospitality businesses interested in receiving national recognition for their quality customer service can enrol again this month in an accreditation

Xceedance Catastrophe Modelling Services 2019-09-11 05:40:17Xceedance announced the availability of On-Demand Catastrophe Modelling Services, using the Oasis Loss Modelling Framework. A spokesperson said, &ldqu

Bermuda Stock Exchange Report: Sept 10 2019 2019-09-11 05:15:50September 10 saw 25,000 shares trade on the Bermuda Stock Exchange, valued at $68,750.00 BD. 25,000 shares were traded by LOM Financial Limited, closi

BEDC Data Privacy & Cybersecurity Course 2019-09-10 15:08:45The TLC Group, in partnership with the BEDC, is offering a 4-week, Bermuda focused data privacy & cybersecurity course starting on Tuesday, Octobe

Vacation Rental Renewal Deadline Extended 2019-09-10 11:30:38The Ministry of Tourism and Transport announced that the deadline for the renewal of vacation rental properties has been extended. A Government spokes

Reuters: Business News

Crisis-hit Boeing readies huge effort to return 737 2019-09-13 14:13:29As Boeing Co sets its sights on winning approval to fly its 737 MAX within weeks, following a six-month safety ban, engineers around the world are ro

Exclusive: WeWork considers dramatic valuation cut in IPO 2019-09-13 13:49:44WeWork owner The We Company may seek a valuation in its upcoming initial public offering of between $10 billion and $12 billion, a dramatic discount t

UPS to pay $8.4 million to resolve U.S. 2019-09-13 13:45:36United Parcel Service Inc has agreed to pay the United States $8.4 million to resolve allegations it overcharged federal agencies for package deliver

PG&E settles wildfire claims with insurers for $11 2019-09-13 13:44:38PG&E Corp said on Friday it has reached an $11 billion settlement to resolve most claims by insurance carriers related to 2017 and 2018 wildfires

Apple, Broadcom keep Wall Street gains in check 2019-09-13 13:29:44Losses in shares of U.S. technology majors Apple and Broadcom held the S&P 500 just under record levels on Friday, as traders balanced the latest

Factbox: What needs to happen before Boeing's 737 2019-09-13 13:04:58Boeing Co's best-selling jet, the 737 MAX, was grounded globally in March, days after the crash of an Ethiopian Airlines flight that followed a simi

Solid U.S. retail sales calm some worries about 2019-09-13 13:02:01U.S. retail sales increased more than expected in August, pointing to solid consumer spending that should continue to support a moderate pace of econo

IMF has a decision to make in Argentina: 2019-09-13 12:56:52The International Monetary Fund has a tough choice to make in Argentina: Unlock over $5 billion in funds under the country's loan deal as the governm

U.S. appeals court says Trump cannot dodge foreign 2019-09-13 12:54:32A U.S. federal appeals court on Friday revived a lawsuit alleging President Donald Trump violated the U.S. Constitution by profiting from foreign and

VW CEO shifts strategy from empire building to 2019-09-13 12:50:03Volkswagen has abandoned its decades-old obsession with empire building and no-expense-spared engineering to free up resources for the development an

Hong Kong exchange vows to press on with 2019-09-13 12:33:54Hong Kong's exchange refused to give up on its bid to take over the London Stock Exchange after the British bourse emphatically rejected its $39 bil

Indian's top trader body seeks ban on Amazon, 2019-09-13 11:35:03A leading Indian trader body asked the government on Friday to ban upcoming festive sales on Amazon's local unit and its rival Flipkart, saying their

Business - The Huffington

MoviePass Shuts Down Its Service After Years Of 2019-09-13 16:50:12MoviePass' parent company appeared unsure if it the movie ticketing service would ever be restored.

Possible Strike Looms At General Motors 2019-09-13 14:48:23The United Auto Workers union and GM will hit a negotiating deadline this weekend, just as the union faces more embarrassing corruption news.

It Takes A Village To Create Sustained Institutional 2019-09-12 10:45:38Strengthening tomorrow through diversity and inclusion starts with us today.

Lyft Updates Safety Policies Amid Sexual Assault Lawsuit 2019-09-10 18:02:38An attorney representing 14 women who say they were assaulted by Lyft drivers called the company's updated policies a "cheap public relations stunt.

Why CEOs Are Failing At Inclusion — & 2019-09-10 08:56:52“You can’t be an ally or advocate unless you’re willing to take action. Even micro-actions can make an impact.”

New York To Investigate Facebook Over Possible Antitrust 2019-09-06 11:23:41The joint probe with several other states will look at how the social media giant's market dominance affects user data, consumer choice and the price

How Amazon Hooked America On Fast Delivery While 2019-09-05 13:20:17Our investigation found Amazon escapes responsibility for its role in deaths and serious injuries even though the company keeps a tight grip on how th

4 Ways To Incorporate Diversity Into Your Workplace 2019-09-05 09:27:04“We have made progress over the last half-century in terms of diversity and inclusion. … But the work is far from done.”

14 Women File Lawsuit Against Lyft After Reporting 2019-09-04 23:34:16At a news conference, one woman recounted a horrific kidnapping and rape that she said took place after she summoned a Lyft ride using its app.

YouTube To Pay $170 Million Fine After Violating 2019-09-04 14:04:18The settlement follows allegations that the video service collected children's personal data without their parents’ consent.

Navigating The Road To Education & Workplace Success 2019-09-03 16:28:13“Even if you make it to college, there’s a real chance you won’t make it to graduation. We need to rethink the systems that result i

Bugatti Chiron Smashes Through 'Inconceivable' Speed Record 2019-09-02 22:52:01The car broke through the 300-mph barrier during a test run last month.

Christian Science Monitor |

Agricultural companies look to enter growing fake-meat market 2019-09-09 14:30:01Traditional agricultural companies are investing in the surging fake meat market, which some predict will triple in size over the next decade.

Volkswagen invests on new electric model. Will consumers 2019-09-09 12:16:38Carbon regulations are pushing EU auto companies to invest in electric vehicles, but so far only customers in wealthy countries are interested.

Why Albertsons says guns and grocery shopping don't 2019-09-09 05:45:46Supermarket operator Albertsons Companies joined Walmart, Kroger, and other retailers asking customers not to openly carry firearms while shopping.

China and industrial theft: What U.S. history says 2019-09-04 16:50:00The U.S.-China trade war ratcheted up Sept. 1 with new tariffs. Lessons from the U.S.’s commercial rivalry with Britain 200 years ago still reso

Capitalism under pressure: Why CEOs rethink corporate purpose 2019-09-03 16:16:00When 181 CEOs at the Business Roundtable’s revised their view of a corporation’s purpose, it reflected social changes since the Great Rece

Why carmakers are revving for regulation 2019-08-27 16:27:33A Trump proposal to scale back fuel efficiency standards has several key automakers siding with environmentalists in California.

The other economic trajectory: Global poverty in decline 2019-08-26 17:15:00Often the media focus on economic challenges, such as inequality and poverty. That’s important, but so is taking note of real progress.

As China trade war escalates, Iowa soybean country 2019-08-23 16:40:10For soybean farmers, weather is “an uncontrollable.” Now President Trump’s fight with China is, too.

Low interest rates are often a cure. Now 2019-08-16 17:16:00Amid warning signs of recession, economists are taking a look at the endemic circumstances that have brought the world to this point.

Home Page

Realty sector welcomes stimulus for stalled projects, but 2019-09-14 09:58:37They rued that the government has not adequately addressed the issue of demand slowdown and lower sales

Infosys opens new R&D centre in Arizona, to 2019-09-14 08:31:10Arizona Technology and Innovation Centre has a special focus on autonomous technologies, Internet of Things (IoT), full-stack engineering, data scienc

Measures for real estate are good, but may 2019-09-14 08:17:32Besides this special window, interest rate on housing building advance is proposed to be lowered and linked to the 10-year G-sec yields

Export promotion scheme, shopping fests: FM's new measures 2019-09-14 08:01:50Make sense of all the announcements made by Finance Minister Nirmala Sitharaman for the exports sector

Rs 70,000 cr package announced for exports, realty 2019-09-14 07:47:15For exporters, a new scheme for reimbursement of taxes paid on exports will come into effect from January 2020 to replace existing dispensations

Aadhaar verification to be must for new dealers 2019-09-14 07:29:09Those who don't want Aadhaar authentication, physical verification will be carried out, which will be completed in three days, Sushil Kumar Modi said

Take CMs' views before changing FinCom's terms of 2019-09-14 04:43:43the Centre changed the terms of reference of the 15th Finance Commission and mandated the panel to suggest ways for allocation of non-lapsable funds f

Gurgaon Metro on the wrong track! Poor location 2019-09-14 04:16:14The Rapid Metro was constructed by IL&FS Infrastructure in two phases. Low ridership, high cost and poor location is believed to be responsible fo

Drones hit two Saudi Aramco oil facilities, fire 2019-09-14 02:30:25Online videos showed a massive blaze on the horizon, with the apparent sound of gunfire in the background

Best of BS Opinion: Price cuts as good 2019-09-13 22:14:00Here's a selection of Business Standard opinion pieces for the day

Focus on sustainability of agriculture, not loan waivers, 2019-09-13 17:48:55RBI panel says banks should partner agri-tech firms to provide quick loans to farmers

Finance panel won't accept Centre's GDP forecasts, says 2019-09-13 17:42:26The medium-term fiscal policy statement, tabled as part of the Union Budget 2019-20, forecasts nominal GDP for 2019-20 to grow 11 per cent year-on-yea


Disclaimer and Notice:WorldProNews.com is not responsible of these news or any information published on this website.