Mining, manufacturing industries register declines in July Loop Jamaica
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Mining, manufacturing industries register declines in July
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The Statistical Institute of Jamaica (STATIN) has reported that for the month of July 2022, output prices for producers in the Mining and Quarrying industry declined by 1.4 per cent and by 0.8 per cent in the manufacturing industry.
The main contributor to the downward movement in the mining industry was a 1.5 per cent fall in the index for the major group ‘Bauxite Mining and Alumina Processing’. There was also a decline in the index for the other major group, ‘Other Mining and Quarrying’, which moved down by 0.1 per cent.
Meanwhile, the manufacturing industry’s index recorded its first decline since the start of the 2022 calendar year, of 0.8 per cent, mainly attributed to the group ‘Refined Petroleum Products’ which declined 4.5 per cent.
STATIN however said the industry’s movement was tempered by a 0.2 per cent increase in the index for the major group ‘Food, Beverages and Tobacco’ and a 3.1 per cent rise in the ‘Wood, Wood Products and Furniture’ major group’s index.
Overall, for the one-year period July 2021 to July 2022, the Producer Price Index (PPI) for the Mining and Quarrying industry rose by 5.9 per cent, due mainly to an increase of 5.8 per cent in the index for the major group ‘Bauxite Mining and Alumina Processing’.
The point-to-point index for the Manufacturing industry moved up by 20.8 per cent.
For the fiscal year-to-date, April 2022 – July 2022, the index for the Mining and Quarrying industry decreased by 0.5 per cent, while the index for the Manufacturing industry advanced by 4.8 per cent, the STATIN said.
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