Puerto Rico Economic Development Bank launches Center for Economic Studies
Puerto Rico Economic Development Bank President Luis Alemañy announced the creation of the Center for Economic Studies to benefit of small- and mid-sized businesses, entrepreneurs and investors.
The expectation is that through this center, the bank can regularly publish certain economic and financial metrics from the macroeconomic point of view but landing on the micro that can support entrepreneurs in their decision-making, he said.
For example, it may publish and comment on metrics related to inflation, jobs by sector, impact of federal aid on the current economy, retail sales by industry, manufacturing indicators, per capita consumption, demographic data, exports/imports, cement sales, among others.
Establishing the center did not require an investment, he said, since the work will be done by in-house professional resources. Economists Gladys Medina and Juan González will direct the new center.
“The Center for Economic Studies will provide relevant information so that, for example, it’s used to prepare market studies. Through easy access to these resources, people or entrepreneurs can follow the economic activity of the island and the behavior of key indicators by industry, among others,” he said.
“To the extent that we support our current and future clients, providing them with resources that help them make decisions based on reliable data, the greater their potential for success,” he said.