GDP in Puerto Rico
Puerto Rico - GDPFrequent earthquakes since January and the fallout from Covid-19 are smothering the economy. On 1 May, the government announced that it was extending the national lockdown, which has been in effect since 15 March to reduce the spread of coronavirus. This will be extinguishing domestic demand, while the external sector will be suffering from weak demand abroad. The effect on the labor market is notable: There was a sharp rise in unemployment claims in April, at a rate not seen since at least the late 1980s. In better news, from 4 May, some service sectors will be able to get back to business, although strict hygiene rules will apply, while construction and manufacturing activity will be able to resume from 11 May. Moreover, the government received USD 2.2 billion in federal financial assistance in April and has asked the federal oversight board to delay required austerity measures for two years.
Puerto Rico - GDP Data
|Economic Growth (GNP, annual variation in %)||-0.8||-1.6||-3.2||-4.2||1.5|
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Puerto Rico Facts
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