Mining and quarrying down 7.2 per cent over 12-month period says STATIN
KINGSTON, Jamaica – Jamaica’s mining and quarrying industry declined by 7.2 per cent between February 2023 and February 2024 according to the Statistical Institute of Jamaica (STATIN).
According to the Institute, in its latest Producer Price Index (PPI) bulletin released on Thursday, the decline resulted from a 7.6 per cent fall in the index for the major group ‘bauxite mining and alumina processing.’
At the same time, STATIN is reporting that the point-to-point index for the manufacturing industry increased by 2.1 per cent during the period. Increases in the index for the major groups ‘refined petroleum products’ (5.3 per cent) and ‘food, beverages and tobacco’ (1.5 per cent) were the main contributors to the increase in the index over the period February 2023 to February 2024 said STATIN.
Meanwhile, STATIN said there was a 0.1 per cent increase in the PPI for the mining and quarrying industry for February 2024 and a 0.3 per cent increase in the index for the manufacturing industry.
According to STATIN, the movement in the mining and quarrying industry during the February 2024 period was mainly attributed to a 0.1 per cent rise in the index for the major group ‘bauxite and alumina processing’.
The increase in the index for the manufacturing industry was due to increases in the index for the major groups: ‘food, beverages and tobacco’ (0.2 per cent) and ‘refined petroleum products’ (1.3 per cent).
