Puerto Rico Economic Activity Sees Slight Drop In November
SAN JUAN – Puerto Rico’s economic activity index (EAI) fell 0.5 percent year-on-year in November, driven by drops in cement sales and gasoline consumption, according to data released on Tuesday by the U.S. commonwealth’s Government Development Bank (GDB).
Cement sales fell 2.5 percent, while gas consumption was down 8.8 percent, the GDB said.
The index, which the GDB says is closely correlated with overall economic performance measured as gross national product, has four main indicators: cement sales, gas consumption, non-farm payroll and electric power generation.
Non-farm payroll employment increased 0.5 percent year-on-year in November, while electric power generation dipped by 0.5 percent, GDB said.