Tag: Economics & Statistics Office
Economy grows by 3%, passing predictions
(CNS): Cayman Islands Government statistics released Friday indicate that the local economy grew by around 3% in the first six months of 2016, surpassing predictions and reflecting the best growth rate in the country since before the economic crisis. The forecast GDP growth for 2016 has now been adjusted from the expected 2.1% forecast by […]
Cayman overcomes fears of official surveys
(CNS): Once reluctant to reveal information to government officials for statistical surveys, the public in Cayman has become much more willing to respond to important socio-economic surveys, and is also embracing the resulting statistics in a variety of ways. Finance Minister Marco Archer, who has responsibility for the Economics and Statistics Office, has said that local […]
ESO begins next labour force count
(CNS): Interviewers from the Economics and Statistics Office (ESO) will be hitting the streets again over the next few weeks as it begins the next Labour Force Survey (LFS) on Sunday, 2 October. The ESO team will visit 1,401 randomly selected sample households in all three islands to ask the public questions about their employment […]
Cayman brings in over 7% more stuff
(CNS): Government has attributed an increase in imports as another good sign that its economic policies are working. According to the Quarterly Trade Statistics Bulletin for April to June this year, CI$194.7 million worth of good were imported from abroad, an increase on the same time in 2015 of 7.1%. This increase was down to […]
Government claims cost of living is falling
(CNS): With electricity, gas and fuel still falling in price, inflation in Cayman continues to decline, according to the Economics and Statistics Office. Finance Minister Marco Archer says that this means Caymanians now have more spending power. In the latest Consumer Price Index report, which measures inflation through changes in prices for goods and services, […]
Jobless total falls to new low of 3.9%
(CNS): A new Labour Force Survey has found that the total number of people out of work in the Cayman Islands this spring had fallen to 3.9%, the lowest jobless figure since 2007. The latest report from the Economics and Statistics Office indicates that the rate of unemployment among locals has also fallen significantly, from […]
Local economy on the up, claims minister
(CNS): Finance Minister Marco Archer said that the local economy is on the up after figures released by the Economics and Statistics Office indicated that economic activity in the Cayman Islands, as measured by the gross domestic product, was estimated to have grown by 2.4% in the first quarter of 2016. “The domestic economy continued […]
Caymanians fall as % of population
(CNS): The population of the Cayman Islands at the end of 2015 was 60,413, an increase of more than 2,000 people over the 2014 year-end figure, according to the latest government statistics. The increase was down to the arrival of more overseas workers, since the percentage of Caymanians fell from 57.4% to 56.7%, the lowest […]
Report shows Cayman’s GDP growth slowed in 2015
(CNS): The growth in the Cayman Islands Gross Domestic Product (GDP) slowed in 2015 compared to 2014, according to the Economic and Statistics Office, which released a number of figures relating to the last fiscal year this week. The Annual Economic Report revealed that the country’s GDP is expected to rise by an estimated 2% in […]
Cayman spends $1.7B in 2015
(CNS) Updated: Government statisticians have revealed that Caymanians and residents consumed $1,697.07 million worth of goods and services last year, as the results of the 2015 Household Budget Survey were published Wednesday. This is more than 36% higher than spending during the last survey eight years ago. The report by the Economics and Statistics Office […]
Home repossession up by over 34%
(CNS): Local banks repossessed 22 homes, amounting to $4.2 million, in the third quarter of 2015, which the Economics and Statistics Office said was “significantly higher” than just three foreclosures in the same quarter of 2014, amounting to just $338,000. According to the latest official economics report, at the end of October last year, 148 properties, amounting to US$35.1 million, were […]
