P.R. economic activity shows 2.6 percent drop Y-O-Y in March
Puerto Rico’s Economic Activity Index, released by the Economic Development Bank, reached a level of 119.3 in March, an increase of 1.2 percent compared to the EAI of the previous month, and a reduction of 2.6 percent when compared to the EAI for the month of March 2017.
The four main indicators that make up the EAI are the average of total non-farm salaried employment, cement sales, gasoline consumption and electricity generation in Puerto Rico.
The average non-farm salaried employment for March 2018 was 850,400, an annual reduction of 4.1 percent compared to March 2017. In addition, as of March 2018, 1.3 million, 94 lb-bags of cement were sold, an increase of 21.4 percent compared to March 2017.
Estimated gasoline consumption was 85.2 million gallons, registering an increase of 6.6 percent over the figure for March 2017. Electricity generation was 1,320.7 million kWh in the month of March 2018, a reduction of 17.7 percent compared to the same month in 2017.
The EAI is an indicator of economic activity and does not represent a direct measure of the real Gross National Product.
The exchange rates in the indicator are not the same as those of GNP, although the indicator has a high correlation with real GNP, which allows for monitoring trends in the economy of Puerto Rico, the EDB noted.
The EAI was formulated using a methodology similar to that used by the Conference Board in its coincident index for the United States economy.