Puerto Rico's economic activity index rose from a year earlier for the first time in 33 months in September.
The index increased 0.8% from September 2014, the Government Development Bank for Puerto Rico reported on Nov. 9. It also increased 0.5% from its August level.
Three of the four measures that contribute to the index grew from a year earlier. In the period total non-farm payroll employment increased 0.5%, electric power generation expanded 1%, and there was 4.6% more gasoline consumption.
The number of bags of cement sold declined by 5.3% from a year earlier. Of the four measures, since 2012 cement sales have shown the most consistent contraction on an annual basis.
Puerto Rico's contracting economy has contributed to a debt crisis threatening about $71 billion of public sector bonds. The increase in the island's economic activity index follows several months of improvement in the island's employment situation. In September the United States Bureau of Labor Statistics released its household survey of employment and it showed that employment was up 1.3% from a year earlier on the island.
