Current Account in Puerto Rico
Puerto Rico - Current AccountThe economy appears to remain scarred this fiscal year, which started in July, by the devasting effects caused by Hurricanes Maria and Irma which struck the island two years ago, as well as by the ongoing shrinkage of the labor force and the weakness of the government’s finances. Economic activity decreased annually for the fourth consecutive month in October, according to monthly data from the Economic Development Bank for Puerto Rico, although the decrease in October was the smallest in that four-month period. On a brighter note, the seasonally-adjusted unemployment rate in October remained close to September’s multi-decade low of 7.6%, although this was partly due to the decreasing size of the workforce. The number of registered stays in hotels also rose strongly in annual terms in July–August.
Puerto Rico - Current Account Data
|Current Account (% of GDP)||4.7||4.3||7.2||9.1||8.4|
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