Gross domestic fixed investment for the fiscal year of 2020 decreased 20.97%, according to the most recent Economic Report to the Governor from the fiscal year of 2020. The data for the 2020 fiscal year includes four months of the COVID-19 pandemic when consumption was restricted. Due to the pandemic, consumption in general decreased, and many businesses, particularly in the retail sector, closed or operated...Read More
New car sales in the month of June 2021 in Puerto Rico totaled 11,636. Compared to the previous month of May, new car sales decreased by 8.3% but managed to remain above 10,000 for the 9th consecutive month. When compared to June 2020, there has been an increase of 9.3%. When compared with June 2019, there has been an increase of 14.5% Low-interest rates and...Read More
As information from the 2020 census is released, there are several demographic concerns for the island of Puerto Rico. Aside from rapidly decreasing, the islands population has also been aging. Compared to 2015, the median age, which is the age where half the island’s population is older and half is younger, has increased from 40 to 43.1. In addition to this, the share of the...Read More
The tourism industry in Puerto Rico was among the most impacted by the COVID-19 pandemic. The cruise industry, which is an important component of tourism on the island, was grounded to a halt in the month of March. Restrictions on international travel led to an enormous decrease in the number of tourists that the island receives. Hotel registrations for 2020 totaled 978,071. Compared to 2019,...Read More
Non-farm payroll for the month of July in Puerto Rico totaled 859,500 workers. Compared to the previous month of June, non-farm payroll increased by 3.6 thousand, or 0.4%. Compared to July 2020, there was a 37.1 thousand increase, or 4.5%. Compared to June, the categories with the most growth were education, tourism, and construction. They had month over month increases of 3%, 1.7%, and 1.4%,...Read More
