PSOJ Members Watchful as World Braces For Possible Recession


The Private Sector Organization of Jamaica, PSOJ President Howard Mitchell, says his members have adopted a ‘wait and see’ approach as the world braces for the possibility of a recession in the global economy.

Mr. Mitchell says while there are no jitters in the private sector the situation is being monitored closely.

Fears of a global recession intensified on Wednesday due to a looming trade war between two of the world’s super powers, the US and China .

However, US stock markets rebounded Thursday afternoon as upbeat retail sales data offset recessionary fears.

Mr. Mitchell says the private sector is hoping for the best.

He says recent economic gains in Jamaica augurs well for the island’s potential ability to cope should the global economy slip into recession.

I’m the meantime, Mr. Mitchell says small business operators continue to suffer due to what he describes as the swift fluctuation in the Jamaica dollar.

In recent weeks,  the dollar has fluctuated between approximately $138 to USD$1 and $131 to the greenback.

Mr. Mitchell says he anticipated another meeting soon between the captains of industry, central bank representatives and the Government.

Howard Mitchell, President of the Private Sector Organization of Jamaica, PSOJ, speaking today with Nationwide News.

Abka Fitz-Henley is a multiple award-winning journalist who is currently the Senior Reporter at Nationwide News Network (NNN). His primary areas of focus are Court, Crime and Parliamentary proceedings. Fitz-Henley was recently recognized in the regional celebrity magazine publication Panache as “The Breaking News Boss”. At 21 years of age, following his 1st year in media, Fitz-Henley was recognized with the Young Journalist of the year award from The Press Association of Jamaica and went on to cop one of the country’s highest recognized journalism prizes, the Journalist of the Year Award. He’s also been awarded the prestigious Corporate Jamaica Broilers Fairplay 1st place Award for investigative journalism and is the recipient of the Caribbean Blog Award for coverage of the infamous Kartel murder trial. Fitz-Henley is also the recipient of the PM Youth Award for Excellence. Over the years, he has appeared as a guest on the BBC World Service and BBC London.

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