Saturday, October 20, 2018

Puerto Rico Economic Activity Index for September-December released

By on February 9, 2018

SAN JUAN – Puerto Rico’s Economic Activity Index (EAI), a tool that summarizes trends and recent behavior, keeps showing signs of contraction in the wake of the September hurricanes.

The Puerto Rico Fiscal Agency and Financial Advisory Authority and the Government Development Bank (GDB) on Friday published the EAI for September, October, November and December 2017.

September ended with an EAI of 115.4, a reduction of 4.7% when compared with the EAI for August and a reduction of 6.2% when compared to September 2016.

October ended with an EAI of 105.1, a reduction of 9% when compared with the EAI for September and a reduction of 14.3% when compared with October 2016.

November ended with an EAI of 100.4, a reduction of 4.4% when compared with October and a reduction of 17.6% when compared with November 2016.

December ended with an EAI of 104.9, an increase of 4.5% from November, but a reduction of 14% compared with December 2016.

On a fiscal year-to-date basis (July 2017 to December 2017) the EAI’s decline was 9.4% with respect to the same period of the previous fiscal year.

Puerto Rico Economic Activity Index continues to drop

The EAI is made up of four main elements:

Non-farm payroll employment, which averaged averaged 867,900 for December, an annual decrease of 5.1. cement.

The monthly electric power generation indicator includes petroleum, natural gas, coal and renewable energy sources. The renewable energy is supplied by utility-scale solar photovoltaic generating capacity, two wind farms and landfill gases sources. Generation for December totaled 1,051.2 million kilowatt-hours, an annual decrease of 37.1%.

Monthly gasoline consumption is estimated by the GDB from the Treasury Department’s monthly gasoline excise tax collections paid by importers which are transferred to the Puerto Rico Highways and Transportation Authority. These collections fluctuate due to changes in inventories and purchases, which do not necessarily reflect the actual monthly consumption reported by retailers.

The preliminary number for gasoline consumption in December was 99.3 million gallons, for an annual increase of 25.7%.

Cement sales for December totaled 880,000 bags, registering an annual decrease of 5.1%

The EAI is highly correlated to Puerto Rico’s real gross national product in both, levels and annual growth rates.

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