Puerto Rico Manufacturing PMI increased to 61.1 in February
The Purchasing Managers Index (PMI) for Puerto Rico’s manufacturing sector increase to 61.1 in February, which indicates an expansion when compared with the prior month.
All sub-indexes — New Orders, Production, Employment and Own Inventories — were at or above the threshold level of 50, which reflects an expansion, according to the report produced as a collaboration between the Puerto Rico Manufacturers Association and the Puerto Rico Institute of Statistics.
In a supplemental survey of manufacturing establishments, the biggest challenges faced by companies in the past month were in operations, such as a shortage of raw materials (29%), transportation costs (14%), supplier deliveries (14%), cost of materials (7%), maintenance and repair of machinery and equipment (7%); human resources, such as employment (36%) and absenteeism (14%); and utilities, such as unreliable utilities (21%) and high energy costs (7%).
In February, the New Orders sub-index increased to 63.2, after being below the threshold in January. Production increased to 65.8 in February, after being below the threshold the prior month as well.
In February, Employment increased to 65.8, staying at or above the threshold for five consecutive months. Meanwhile, the Own Inventories sub-index increased to 60.5, staying above the threshold for five consecutive months.
Finally, Supplier Deliveries decreased to 50 in February, staying at or above the threshold for four consecutive months.