The economic activity that would be common in colonial New England is shipbuilding and sail repair. Colonial New England had a strong maritime economy, where shipbuilding played a crucial role due to its coastal location and the need for vessels for trade and fishing.
The other options, while historically significant to colonial New England, do not specifically identify an economic activity. Promotion of the Puritan faith relates to religious practices, signing of the Mayflower Compact pertains to governance and social contract, and growing of cash crops is more associated with the southern colonies where agriculture dominated the economy.