In the month of December 2023, a total of 11,538 new car units were sold in PuertoRico, showing a decrease of about 3.95% from the 11,802 vehicles sold in December2022 according to data from the United Group of Automobile Importers (GUIA, for itsSpanish acronym). When comparing the YTD of 2022 and 2023, there’s been anincrease of 3.92% on all car sales. December 2023 had the...Read More
The Index of Coincident Indicators in Manufacturing (IICM) rose to 115.9 in October, according to data from the Office of Business Strategy and Intelligence of the Department of Economic Development and Commerce (DDEC). It is the highest level since March 2009. When comparing the month of October last year, the Index grew 3.9% and already has 31 months of year-on-year increases. The index increased 0.6%...Read More
During the calendar years 2021 and 2022, data from the Community Survey indicate that the net migration balance between Puerto Rico and the United States decreased from 27,000 to 16,000 people emigrating or by 41%, revealed the Migrant Profile 2021-2022, as published by the Puerto Rico Statistics Institute. According to the survey, between 2021 and 2022, the migration indicators from Puerto Rico showed that the...Read More
Retail sales during October 2023, at an annual rate, reported a reduction when compared to the same month of the previous year. We understand that three (3) effects have influenced this result and the consumption pattern. First of all, we understand that the negative effects of the passage of Hurricane Fiona in September 2022 will affect the results obtained in October 2022, raising them beyond...Read More
The Economic Activity Index (IAE) stood at 129.7 in October, the highest reading since 2014, according to data from the Economic Development Bank (BDE). The index is 6.0% above where it was in the same month last year and represents an increase of 0.2% when compared to the previous month. October is the ninth consecutive year-on-year increase. All four components of the IAE recorded increases...Read More
