Puerto Rico Economic Pulse ©

March 2002: The Road Back to Recovery

An Analysis of the Puerto Rico Economy and Outlook for 2002 and 2003

Fiscal year 2001 marked the beginning of an economic slowdown in Puerto Rico. After a decade of high growth rates, the economy cast clear signs of decelerating. The performance of the Puerto Rico economy was not divorced from the US economic cycle. The Island posted the lowest real growth since 1992. But the worst was still to come. The tragic events of September 11 put both economies on the verge of recession, thereby backing the belief that the Island economy is tied to the US. Find out what happened in 2001 and whether the economy is in a recession in 2002? And, after all, is recovery ahead for 2003?