Economics
Puerto Rico Economy Index Has 11th-Straight Drop in October
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Puerto Rico’s economic activity index posted the 11th-straight year-over-year drop in October, as the commonwealth struggles to halt a slide that is contributing to the worst year for its debt since 1999.
The index fell 5.2 percent in September from the same month of 2012, and by 5.4 percent in October, according to the commonwealth’s Government Development Bank, or GDB. U.S. Treasury Department staff traveled to the territory last week to help Governor Alejandro Garcia Padilla’s administration boost the island’s economy with already promised federal aid.