Manufacturing Industry’s Out-turn Mainly Attributed to Increase in Index For Refined Petroleum Products Group- STATIN
The Statistical Institute of Jamaica (STATIN) is reporting that the July 2018 producer price indices for the mining and quarrying, and manufacturing industries grew by 4.4 and one per cent, respectively.
This was noted by STATIN’s Deputy Director General, Leesha Delatie-Budair, during the Institute’s media sensitisation seminar at the Terra Nova All-Suite Hotel in St. Andrew last week.
Ms. Delatie-Budair said the movement in the mining and quarrying index resulted from a 4.5 per cent increase in bauxite mining and alumina processing, and 0.7 per cent in the ‘other mining and quarrying’ category.
She pointed out that the manufacturing industry’s out-turn was mainly attributed to an increase in the index for the ‘refined petroleum products’ group.
Additionally, the Deputy Director General said the highest weighted group – food, beverages and tobacco – moved up by 0.1 per cent, while chemicals and chemical products increased by 0.9 per cent.
For the 12-month period, dating back to July 2017, the manufacturing industry index increased by 8.5 per cent.
This was influenced by a 39.4 per cent increase in refined petroleum products, and growth of 2.3 per cent in food, beverages and tobacco.
However, the out-turn for the mining and quarrying index declined by seven per cent.
Ms. Delatie-Budair said for the fiscal year to date, from April to July 2018, the index for mining and quarrying increased by 3.3 per cent, and by 3.7 per cent for manufacturing.