The U.S. government will for the first time publish economic data on Puerto Rico amid concerns that statistics released by the U.S. territory are flawed.
The Bureau of Economic Analysis said Monday that it will analyze consumer spending, business investment and trade in goods from 2012 through 2017. The agency said its work could eventually lead to an estimate of Puerto Rico’s gross domestic product.
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The bureau said the island needs a more modern set of statistics that adhere to international economic accounting standards. The announcement comes nearly a year after Puerto Rico tried to merge its Institute of Statistics with another agency.
The island is in a 12-year recession and trying to restructure a portion of its more than $70 billion public debt load.