In September 2020
Regional economy recorded a drop less pronounced than in the previous month
The Regional Indicator of Economic Activity (RIEA) indicates that the regional economic activity in September 2020, although in contraction, had a less negative performance than in August.
As mentioned in the first release of IRAE, back in October 2017, its objective is “to signal the behaviour of economic activity, namely concerning its direction and magnitude of fluctuations: whether it is in the positive or negative ground, accelerations, decelerations and the identification of turning points ”. Therefore its quantitative value assumes secondary importance, not being a substitute for the volume change of the Gross Domestic Product - determined with a more varied and complete set of statistical information - although there is a strong correlation between the two variables.
It should be highlighted that this week, Statistics Portugal and the Regional Directorate of Statistics of Madeira (DREM) released the Regional Accounts for 2018 and 2019, which confirm the growth of the economy of the Autonomous Region of Madeira (RAM) in the aforementioned years, in line with the results of the RIEA.
Monthly Economic Indicators – September 2020
Together with the RIEA is published the Monthly Economic Indicators - September 2020, an instrument for monitoring the economic situation, which provides the most recent data on regional economic activity.
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