For countries with access to international capital markets, like Trinidad and Tobago, reliable and timely data along with transparent statistical practices are a basic requirement. Important institutional changes are currently in train at the Central Statistical Office (CSO) to strengthen the organization’s autonomy and to enable it to better fulfill this mandate.
Activity in important parts of the industry – including in house building and commercial construction – remains subdued, as does the immediate outlook, and this has led to a fair amount of job shedding. The second industry is public administration, where employment has fallen by 50,000 over the past year, with governments cutting back due to budgetary pressures.