In July 2020
Madeira’s economy contracted despite recovering from the previous month
The Regional Indicator of Economic Activity (IRAE) indicates that the regional economic activity in July 2020 contracted although in a less pronounced way than in the previous month. This reflects the resumption of economic activity, after a period of strict measures to contain the COVID-19 pandemic which severely affected the economy. Please notice that a 3-month moving average was used in order to avoid large fluctuations on the IRAE, so the value for July corresponds to the average of May, June and July.
Monthly Economic Indicators – July 2020
Together with RIEA is published the Monthly Economic Indicators - July 2020, an instrument for monitoring the economic situation, which provides the most recent data on regional economic activity.
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