Puerto Rico manufacturing PMI up to 55.8 in July
The Purchasing Managers Index (PRM-PMI) for Puerto Rico’s manufacturing sector increased to 55.8 in July, an expansion over the prior month.
The index is a collaborative effort between the Puerto Rico Manufacturers Association and the Puerto Rico Institute of Statistics that measures several components related to the sector.
The Employment (55.8), Suppliers Delivery (71.2) and Own Inventories (50) sub-indexes increased with respect to the previous month. All the sub-indexes were above the threshold level of 50 except Production (48.1). New Orders decreased to 53.8.
In a supplemental survey of manufacturing establishments, 7.7% of the respondents indicated that their operations ceased following the health measurements taken by the government due to the COVID-19 pandemic.
Factors affected by the pandemic in the manufacturing sector were: a reduction in suppliers’ deliveries (46.2%); a reduction in demand (26.9%); a reduction in staff (19.2%); a reduction in inventory (19.2%); and others (23.1%).
The PRM-PMI has been at or above the threshold level in 79 of the 135 months since the survey was first published.
The PRM-PMI is currently available only on a Non-Seasonally Adjusted basis, which means that seasonal fluctuations can affect its performance.
