On a non-seasonally adjusted basis (NSA), the Purchasing Managers Index for Puerto Rico’s manufacturing sector edged down to 49.1 in November, suggesting a contraction in the sector with respect to the previous month.
The majority of Puerto Rico’s 78 municipalities are in dire financial conditions, with more than half carrying deficits on their general funds, the Center for Integrity in Public Policy (CIPP) revealed in its third annual Financial Health Index.
The lack of available, reliable economic data and a deficiency in transparency from the government are several key factors that must be addressed for Puerto Rico to improve its ranking in an index published annually by The Heritage Foundation, local economists said Monday.