Puerto Rico’s Purchasing Managers Index for the island’s manufacturing sector decreased to 43.2 in November and remained below the threshold level for the eighth consecutive month.
A reading below the threshold level suggests a contraction in the manufacturing sector with respect to the previous month. The report shows that four out of five of the key elements of the index — new orders, production, employment and own inventories — dropped. Supplier deliveries was the only segment that showed growth.
“Puerto Rico Manufacturing-Purchasing Managers Index (PRM-PMI) has been at or above the threshold level in 66 of the 115 months since the survey was first undertaken. The PRM‐PMI is currently available only on a Non‐Seasonally Adjusted basis, which means that seasonal fluctuations can affect its performance,” the report confirmed.
In November, new orders decreased to 43.2, which is below the threshold. Employment declined to 38.6, remaining below the threshold level for the seventh consecutive month. Supplier deliveries rose to 52.3 in November, above the threshold level, showing that the speed of supplier deliveries in November was faster than in October.
Finally, the own inventories sub-index decreased to 43.2, staying, below the threshold level of 50, for a fourth consecutive month.
“A reading below 50 indicates that on a non-seasonally adjusted basis, inventories in manufacturing establishments in November were lower than in October,” the report stated.