Puerto Rico Economic Activity Index rose in November
The Puerto Rico Economic Activity Index rose in November by 0.3% from a year earlier.
The index was also up 0.4% from October, according to a report from the Economic Development Bank for Puerto Rico on Thursday.
In the last six months, the index value has gone up twice and down four times in year-over-year comparisons. In month-to-month comparisons, it has gone up for four consecutive months.
In November, three of the four index components went up from a year earlier. Electrical power generation increased 4.4%, cement sales grew by 1.6%, and total non-farm payroll employment expanded 0.8%. However, gasoline consumption shrank by 9.1%.
Some economists and Moody’s Investors Service have said that the earthquakes in southwest Puerto Rico and the gradual restoration of power from Jan. 7 to 13 will have negative effects on the economy. The economists have said that the impact will probably be minimal.
According to the U.S. Bureau of Labor Statistics household survey, Puerto Rico employment was down in November from October by 1.01%. It was the third consecutive month-to-month decline in employment. The November total was down 0.08% from November 2018 but up 1.05% from November 2014.