MEFD September 2014

Published: Tuesday November 4th, 2014

Indications are that the Bahamian economy’s mildly positive growth pace was sustained during the review month, supported by an improving tourism performance and foreign investment related construction activity. Gains were recorded in both air and sea arrivals, underpinned by targeted promotional campaigns to increase airlift to key domestic destinations. Nevertheless, signs are that labour market conditions remained challenging, owing to the narrowness of the recovery. Amid relatively stable to declining global oil prices, domestic inflation was subdued over the twelve-months to August—advancing, marginally, by 0.3 of a percentage point to 1.00%. In monetary developments, both liquidity and external reserves contracted in September, reflecting the traditional increase in foreign currency demand in the latter half of the year.

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