Puerto Rico's economic measures in April were mixed, with the economic activity index down but the unemployment rate also down.
Puerto Rico's economic activity index declined 0.4% in April compared to March, the Government Development Bank of Puerto Rico reported.
Compared to April 2013 the index is down 1.3%.
The index reached its lowest level since the mid-1990s in August 2013. Since August 2013 the index is up 1.3%. On an annualized basis this would be equal to a 1.9% increase.
From April 2013 to April 2014 total non-farm employment is up 0.2%, electric power consumption is down 2%, gas consumption is up 0.8%, and cement sales are down 17.5%.
In the announcement of the April 2014 index value, the GDB also revised the March 2014 index value down slightly to 127.7 from 127.9.
Puerto Rico's unemployment rate dropped to 14.1% in April, a 0.6 percentage point drop from March.
Since December the island's rate has dropped 1.4 percentage points, according to the United States Bureau of Labor Statistics.
According to the household survey data, there were 3,938 fewer people employed in April than in March, a 0.4% decline. However, this same date indicates there were 7,960 fewer unemployed in April than in March, a 4.6% decline.
In determining employment shifts in Puerto Rico the U.S. government's survey of businesses and governments about their employment is more reliable than its household survey, said Vicente Feliciano, president of Advantage Business Consulting.
This "establishment" survey showed total nonfarm employment up by about 100 jobs in April compared to March. Over the same period nonfarm private sector employment was up by about 600 jobs.
The establishment survey shows nonfarm private sector employment in April was up 2% from a low point in July 2013.
In other Puerto Rico economic news, in late May Federal Reserve Bank of New York senior economist Jaison Abel said that recently Puerto Rico's economy had shown some "signs of firming."
Abel did not specify what he meant by "recently," but the New York Fed last released a report on Puerto Rico's general economic conditions in late summer.
