The projected Growth Domestic Product (GDP) for this quarter in St. Kitts and Nevis has been revised by the Eastern Caribbean Central Bank (ECCB).
The revision saw the GDP for St. Kitts and Nevis drop from 2.36 percent in July to 1.93 percent in October.
This is the third consecutive quarter the ECCB has revised downwards.
In January, it was revised from 3.02 percent to 2.84 percent, and in July it was revised from 2.84 percent to 2.36 percent.
St. Kitts is not the only country in the region to have its GDP revised downwards in October.
- Anguilla – from 3.4 to -3.5 percent
- Antigua and Barbuda – from 5.07 to 3.11 percent
- Dominica – from 3.12 to -6.22 percent
- Montserrat – from 1.34 to 0.59 percent
- St. Vincent and the Grenadines – from 2.32 to 0.7 percent
The ECCB has acknowledged that due to the effect of Hurricanes Irma and Maria in September, Anguilla, Antigua and Barbuda, and Dominica will be likely to have a “deterioration in their fiscal performance” in the short to medium term.
These October projections and revisions have pushed St. Kitts and Nevis down in the Eastern Caribbean Currency Union, with St. Lucia in first place, followed by Grenada and Antigua and Barbuda.