Puerto Rico’s economy continued its contraction in August, declining 0.4% from July and 5.4% from August 2012.

The data comes from the Economic Activity Index, which is compiled by the Government Development Bank of Puerto Rico.

In July the index was down 1% from June and 5% from July 2012.

The island’s Economic Activity Index has been declining since November 2012.

The index has four components: gasoline consumption, non-farm payroll employment, electric power generation and cement bag sales.

In August gasoline consumption in August was up 5.4%, non-farm payroll employment was down 4.4%, electric power consumption was down 2.2%, and cement sales was down 15.5%, all compared to August 2012.

The index has historically shown a close correlation with the island’s gross national product.

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