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Jamaica's economy experienced a 3.5?cline in real value added during the third quarter of this year compared with the similar period in 2023.
The Statistical Institute of Jamaica (STATIN) says the contraction was attributed to a 2.2?cline in the Services Industry and a 7.2% dip in the Goods Producing Industry.
Hurricane Beryl, which struck in July, severely affected the economy.
The Agriculture, Forestry & Fishing sector suffered a 12.5?cline due to damaged crops, delayed planting, and disrupted harvesting.
Similarly, the Mining & Quarrying sector contracted by 17.4?ter one of Jamaica's major alumina-producing plants sustained significant damage.
Beryl also caused extensive damage to the Jamaica Public Service Company's infrastructure, delaying power restoration across several parishes.
This led to reduced electricity and water consumption, negatively affecting the Electricity & Water Supply and Other Services sectors.
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