DREM releases a new Regional Index of Economic Activity

On the occasion of the European Statistics Day, the Regional Directorate of Statistics of Madeira makes available starting from today, the Regional Index of Economic Activity (RIEA), which will be released and updated on a monthly basis.

With this indicator, the Autonomous Region of Madeira is provided with a synthesis instrument that will facilitate the timely follow-up of the state of the economy and unequivocally identify its trajectory.

RIEA will be released monthly, until 75 days after the end of the reference month.

Data for the indicator begins in January 2006, since there are restrictions in the available time series. Until 2011 the economy had sucessive phases of growth and shrinkage, a natural characteristic of the economic cycle. The period between the end of 2011 and August 2013 – during which the RIEA shows a pronounced decrease of the economic activity – overlaps with the beginning of the Economic and Financial Adjustment Plan implemented in Madeira. The lowest value of the RIEA was registered in October 2012.

Since then, the RIEA has been registering continued increases with a maximum in November 2016.

This was followed by a period of economic slowdown, although the RIEA remained above the historical mean. July 2017 marks a period of fifty consecutive months of growth.

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