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ECONOMIC
&
FINANCIAL DATA
13
CARIBBEAN BUSINESS
THURSDAY, APRIL
21,
2011
BDVA^,,
^
. .^. ..^ .
\A/;^trhweekly .bconoinic
and
rinancial Review
Highlights
Puerto Rico's cement sales went up by
4.9%
in March compared to the same monthof the previous year.Consumer prices in the U.S. rose by 0.5%for the second consecutive month in March.
U.S.
total retail sales rose 0.4%.in March.
US & Global
U.S.
consumer prices rose by 0.5% inMarch, led by an increase in energy prices.The index for energy went up 3.5%, pushedup by higher gasoline prices, which were upby 5.6% in March. On the other hand, prices,excluding food and energy, an indicatorclosely watched by economists, went up by
0.1%.
US:Consumer Price Index
(Change from Preceding Month, SA)0.5%
0.5%
an annual rate of 8.1%. On the other hand,retail sales-not including automobiles andauto-part -were up by 0.8% on a monthlybasis in March.
US:Retail
&
Food Services Sales
(Millions
of
$,
SA)
0.6%
n
0.5%
-
0.4%
0.3%
0.2%
0.1%
0.0%0.2%
•
09/100.2%
•
10/10
0.1%
11/100.4%
1
2/100.4%
1
1/1102/11
03/11
Source: Bureau
of
Labor Statistics
395,000380,000365,000350,000335,000320.000
Source:
US
Census Bureau
Puerto Rico
Cement sales went up at an annual rate of
4.9%
in March 2011, the 3rd consecutivemonth with an increase in sales. Sales reached
81 .,091
metric tons. For the first quarter of
2011,
sales are up by 10.2% totaling 211,947metric tons.
PR: Puerto Rico's Monthly Cement Saies
((Metric
Tons,
NSA))
200.000
1
160.000120.00080.000
40,000- Cement Sales-12 Month MA (Cement Sales)
Total retail sales increased by 0.4% to$389.3 billion in March from February, and
7.1%
from March 2010. Accumulated salesfor the first three months of 2010 were up at
For actual
and
updated information
on
Economic Indicators. Interest Rates, Commodities
and
Source:
PR
Planning Board
The Road
to
Recovery
Economic Uncertainties
By José
J.
Villamil, Estudios Técnicos,
Inc.
The Chairman
of the
Federal Reserve System,Ben Bemanke, recently indicated that
the
stimulusprogram based
on
purchasing outstandinggovernment debt, known
as Q2,
will almostcertainly stop
in
June.
The Fed has
also beensignaling that with inflation under control
and
the economy growing
at a
safe rate, there
is no
pressure
to
raise interest rates.
On the
other hand.Republicans
in the
House
arc of
the opinion thatinflation poses
a
greater threat
and
that tighteningis required. Obviously, achieving some consensuson
the
short term prospects
for the
economy
is
essential. This probably explains
why
ChairmanBemanke will hold
a
first ever press conferenceto announce
the
Fed's position
and its
economicprojections. There
are
some major extemal factorsthat complicate
the
situation.
One is the
increasedprice
of
petroleum that
has
caused gasoline pricesto surpass the $4.00 per gallon threshold, others
are
the uncertainty with respect
to
European prospectsand volatility
in
Northem Africa
and the
MiddleEast. Internally,
the
housing market situation
is
unsettled
and the
high levels
of
unemploymentlikewise, notwithstanding recent improvements
in
the unemployment rate.
The
cuts
in
govemmentspending will almost certainly have
a
negativeimpact
on the
rate
of
economic growth. PuertoRico
is
part
of
that uncertain scenario. Cuts
in the
federal budget will have
an
impact that ResidentCommissioner Pierluisi already estimated
at
some$226 million this year.
Of
greater concem
is
thatany slowing down
of the U.S.
economy willmake
our
efforts towards economic recovery evenmore difficult than they already
are. A
consensuson economic policy between
the two
parties
in
the Congress would,
at
least, reduce some
of the
uncertainty.
^___..
^ .^
dNign
by
Estudios Técnicos.
Inc
Commsnis welcome
at
bbvapublicldad@bt)vaprxom.BevA Puerto Rico puUlahealhia document
for
nfixmatlanpurpcMaa only. Thainlbnnation
i
are based
on
rtormellonbeiievaa
by
ustobe reliable,
but
BBVA Puerto
Riœ
does
nut
represent thai
it
ßaixurataorcomfiMe, should
not be
railed upon
aa
such, and BBVA Puedo Rico does not aaatjme
any
reaponsWMyfitness
tor a
particulaf punxMeII Ihia puUlcatlon shoiál ncl be oonalnied
or
used
as
advice lor Investment, acxxunting.
lax ot
flnencW purpoeea. The opMona eiqnMadfor ally
uae
you may aive 10
Ihe
nfannetion. BBVA Puerto Rico furtiardanlesal»en»ntles.lnduilna,ii«houtllmllaltai.»aii»itooli^^
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