Puerto Rico’s Manufacturing PMI fell to 49.1 in November
SAN JUAN – On a non-seasonally adjusted (NSA) basis, the Purchasing Managers Index (PMI) for Puerto Rico’s manufacturing sector edged down to 49.1 in November, the Puerto Rico Statistics Institute announced Wednesday.
A reading below the threshold level of 50 suggests a contraction in the manufacturing sector with respect to the previous month.
All the sub-indexes decreased when compared with their October reading, except for the Own Inventories sub-index; it increased over the threshold level to 52.2 last month. The New Orders sub-index fell below the threshold level to 45.7 in November, after remaining above for three consecutive months.
The Puerto Rico Manufacturing-Purchasing Managers Index (PRM-PMI) has been at or above the threshold level in 49 of the 79 months since the survey was first undertaken.
The PRM-PMI is calculated as the simple average of five sub-indexes, representing different business conditions in manufacturing establishments: New Orders PMI, Production PMI, Employment PMI, Supplier Deliveries PMI, Own Inventories PMI.
The sub-indexes are computed using a diffusion index methodology.
The New Orders PMI (NSA) fell below the threshold level to 45.7 in November after remaining above for three consecutive months. A reading below 50 indicates that on a non‐seasonally adjusted (NSA) basis, new orders at manufacturing establishments in November were lower than in October.
In November, the Production PMI, non-seasonally adjusted (NSA), edged down to 54.3, but remained above the threshold level for the second consecutive month. A reading over 50 indicates that manufacturing production in November was higher than in October.
The Employment PMI (NSA) was pegged at the threshold level of 50 in November, indicating that manufacturing employment in November was the same as in October.
In November, the Supplier Deliveries PMI (NSA) sank below the threshold level to 43.5, after remaining above for two consecutive months, indicating that the speed of supply deliveries in November was faster than in October, suggesting a lower demand for intermediate goods.
The Own Inventories PMI (NSA) rose above the threshold level to 52.2 in November, after remaining below for two consecutive months, which indicates that inventories in manufacturing establishments in November were higher than in October.