Puerto Rico manufacturing PMI down to 53.3 in June, marks 4th straight drop
The Purchasing Managers Index (PMI) for Puerto Rico’s manufacturing sector decreased for the fourth consecutive month to 53.3 in June, according to a report produced by the Puerto Rico Manufacturers Association and the Puerto Rico Institute of Statistics.
The PMI has sub-indexes — employment, production and new orders — all of which were above the 50-point threshold. Furthermore, all the sub-indexes were above the positive level except own inventories.
In a supplemental survey of manufacturing establishments none of the respondents said their operations closed following the health measurements taken by the government due to the COVID-19 pandemic last year.
Factors affected by the pandemic in the manufacturing sector were: a reduction in suppliers’ deliveries (52.4%); a reduction in demand (38%); a reduction in staff (38.1%); a reduction in inventory (24%); and others (19%).
The employment PMI increased to 52.4, staying above the threshold for two consecutive months. In June, the own inventories PMI decreased to 40.5, placing below the threshold for three months.
The Supplier Deliveries PMI decreased to 59.4 in June, staying above the threshold for eleven consecutive months, according to the report.