Puerto Rico’s manufacturing PMI increased to 50.4 in May
The Purchasing Managers Index (PMI) for Puerto Rico’s manufacturing sector increased to 50.4 in May, indicating an expansion in the manufacturing sector with respect to the previous month.
The PRM-PMI is the result of a collaborative project between the Puerto Rico Manufacturers Association and the Puerto Rico Institute of Statistics. The index measures short-run business conditions in Puerto Rico’s manufacturing sector and provides a broad-based metric for the productive side of Puerto Rico’s economy.
The report shows that the New Orders (47.8), Production (52.2) and Employment (43.5) sub-indexes increased with respect to the previous month. Meanwhile, Production (52.2), Suppliers Deliveries (54.3) and Own Inventories (54.3) sub-indexes were at or above the threshold level of 50.
“In a supplemental survey of manufacturing establishments, only 13% of the respondents indicated that their operations ceased following the health measurements taken by the government due to the COVID-19 pandemic,” the report stated.
Factors affected by the pandemic in the manufacturing were: a reduction in suppliers’ deliveries (78%), a reduction in inventory (52%), a reduction in demand (48%), a reduction in staff (44%), and others (13%).
The PRM-PMI has been at or above the threshold level in 68 of the 121 months since the survey was first undertaken. The analysis is currently available only on a Non‐Seasonally Adjusted (NSA) basis, which means that seasonal fluctuations can affect its performance.