The President of the Bank for Economic Development for Puerto Rico (BDE), Pablo Muñiz Reyes, published Saturday the data related to the Economic Activity Index (IAE) for November 2020.
The information reveals a reduction of 6.8 per cent compared to the previous month.
“In terms of accumulated terms, the IAE-BDE promo for the 2019 fue of 122.6. This is evidence of an increase of 1.6 per cent against the fiscal year 2020, the second consecutive annual crime rate followed by five years with subsequent annual reductions. Without embargo, the IAE-BDE accumulated premium for the previous year ended in 119.6, which translates into a loss of 2.0 percent versus the fiscal year 2019 ”, says Muñiz Reyes in written statements.
This is the new series of consecutive readings of 20 months of interim annual increases.
Muñiz Reyes points out that the crisis created by the COVID-19 pandemic provoked the loss of jobs and complicates the operation in the sanitation sector, which led the Government to introduce new challenges. Among these figures are other strategies that promote economic activity, invigorating small and medium-sized businesses to accelerate the recovery of displaced persons.
The IAE-BDE accumulated premium for the period from November to November 2020 is 115.3 points, which represents a reduction of 5.9 per cent.
In addition, the premium accumulated for the first fifty months of fiscal year 2021, between July and November, is 114.2 or a figure of 7.1 per cent, compared to the same fiscal year 2020.
During November 2020, one of the four components of the IAE-BDE: cement sales, increased 4.3 per cent. While the wage earner in agriculture, the generation of electric energy and the consumption of gasoline will show a decrease of 7.3 per cent, 2.6 per cent and 9.5 per cent, respectively.
These results were compared to the November 2019 figures.
Finally, when compared to the month of October 2020, the salaried employment in agriculture increased 0.2 per cent, the electricity generation generated 5.4 per cent, gasoline consumption -13.4 per cent and cement sales decreased by 7.8 per cent. scient.