Puerto Rico Manufacturing Purchasing Managers Index up to 52.4 in January
The Puerto Rico Purchasing Managers Index (PRM-PMI) for the manufacturing sector increased to 52.4 in January, breaking the threshold of 50, suggesting growth when compared to the previous month.
The employment, own Inventories and suppliers’ deliveries sub-indexes increased with respect to the previous month, while the employment, suppliers deliveries and own inventories sub-indexes beat the threshold.
The PRM-PMI is the result of a collaborative project between the Puerto Rico Manufacturers Association and the Puerto Rico Institute of Statistics.
As part of a supplemental survey manufacturing establishments, 4% of the respondents said their operations closed 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 (23%), a reduction in demand (38%), a reduction in staff (33%), a reduction in inventory (14%), and others (24%).
The PRM-PMI has been at or above the threshold level in 73 of the 129 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.
New orders decreased to 47.6, production dropped to 45.2, employment increased to 52.4, own inventories increased to 59.5, supplier deliveries increased to 57.1.