Mining down 11%, Agriculture 4.5% as economy contracts
KINGSTON, Jamaica - The country’s economy contracted by 0.6 per cent in the quarter ended December 2012, the Planning Institute of Jamaica (PIOJ) has reported.
The slump resulted from a 2.7 per cent decline in the Goods Producing industry and the Services industry remaining flat.
The Goods Producing industry saw all its sectors declining. Mining and Quarrying was down 11 per cent, Agriculture dropped 4.5 per cent and Construction was down 1.5 per cent.
The announcement was made by the PIOJ’s acting director general Everton McFarlane, at the Institute’s quarterly press briefing today.
Growth for this quarter is projected between zero and one per cent.