[Federal Register Volume 84, Number 212 (Friday, November 1, 2019)]
[Notices]
[Page 58684]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-23866]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis

[Docket Number 191028-0071]
RIN 0691-XC107


Request for Comment; Notice of Development of Economic Statistics 
for Puerto Rico

AGENCY: Bureau of Economic Analysis, Department of Commerce.

ACTION: Notice; request for comments.

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SUMMARY: The Bureau of Economic Analysis (BEA) is soliciting comments 
from the public on its new prototype Economic Statistics for Puerto 
Rico, which cover consumer spending, business investment, and trade in 
goods for Puerto Rico. BEA seeks comments on the statistics' 
methodology, presentation, level of detail, and scope. Following the 
public comment period, BEA will incorporate feedback, update the 
methodology and related materials for these economic statistics, and 
incorporate the revised prototype economic statistics into research to 
develop estimates of Puerto Rico GDP.

DATES: Comments must be received no later than December 2, 2019.

ADDRESSES: You may submit comments by the following methods:
     Email: [email protected].
     Mail: Sabrina Montes, Office of the Director, Bureau of 
Economic Analysis, Department of Commerce, 4600 Silver Hill Road (BE-
40), Washington, DC 20233.
    Comments sent by any other method or after the comment period may 
not be considered. All comments are a part of the public record.

FOR FURTHER INFORMATION CONTACT: Sabrina Montes, Office of the 
Director, Bureau of Economic Analysis, Department of Commerce, 4600 
Silver Hill Road (BE-40), Washington, DC 20233; phone: (301) 278-9268 
or email [email protected].

SUPPLEMENTARY INFORMATION: In 2018, BEA initiated a project to 
calculate GDP for Puerto Rico in order to support Puerto Rico's 
economic recovery following devastating hurricanes in 2017. This 
project follows technical collaborations between BEA and the 
Commonwealth of Puerto Rico dating back to 2010. The project also 
responds to recommendations from the Congressional Task Force on 
Economic Growth in Puerto Rico and Government Accountability Office 
that BEA calculate GDP for Puerto Rico.
    The present project--a collaborative effort between the 
Commonwealth of Puerto Rico and BEA--combines the best available Puerto 
Rico source data with BEA's current national accounting methodologies. 
The project seeks to produce accurate and objective economic statistics 
for Puerto Rico comparable to data for other U.S. territories, states, 
and the nation.
    Methodological updates incorporated in the prototype statistics 
include:
     Using chain-type Fisher indexes to calculate changes in 
aggregate output and prices;
     Expanding the use of economic census data from the U.S. 
Census Bureau; and
     Treating expenditures on intangible assets as investment 
to allow users to understand how these intangible assets drive economic 
growth.
    In October 2019, BEA published prototype estimates that incorporate 
these methodological updates for select GDP components for 2012-2017.
    BEA is seeking feedback on its prototype statistics of consumer 
spending, business investment, and trade in goods for Puerto Rico. BEA 
will consider this feedback as it continues to refine source data, 
methodology, and data presentations before incorporating these measures 
into future prototype Puerto Rico GDP statistics.
    BEA invites comments from the public; private industry; state, 
local, and territorial governments; non-profit organizations; and other 
interested parties to assist in improving the prototype statistics. In 
particular, BEA is interested in feedback regarding the following:
    1. How will the statistics on consumer spending, business 
investment, and trade in goods for Puerto Rico be used?
    2. Would an annual publication in May be useful? If not, what time 
of the year would be most valuable to inform planning and other uses?
    3. Are the prototype estimates consistent with the data and local 
information that are available elsewhere on Puerto Rico? If not, please 
describe the differences.
    4. Do you have any feedback about the methodology used to create 
the prototype Economic Statistics for Puerto Rico described in the 
October 2019 Summary of Methodologies: Puerto Rico Personal Consumption 
Expenditures, Private Fixed Investment, and Net Exports of Goods 
(available at BEA.gov)?
    5. Are there additional or alternative source data that you believe 
could be used to generate and corroborate these statistics beyond those 
described in the October 2019 Summary of Methodologies: Puerto Rico 
Personal Consumption Expenditures, Private Fixed Investment, and Net 
Exports of Goods (available at BEA.gov)?
    6. Which would be more useful: Less-detailed industry breakdowns, 
which will result in fewer data suppressions to protect 
confidentiality, or more-detailed industry breakdowns, with the 
necessary suppressions?

    Authority:  Chapter 5, Title 15 U.S.C.; 15 U.S.C. Section 1516; 
13 U.S.C. Section 401 and 402.

Sabrina Montes,
Economist, Bureau of Economic Analysis.
[FR Doc. 2019-23866 Filed 10-31-19; 8:45 am]
 BILLING CODE 3510-06-P