In May 2021
Regional economy accelerated
The Regional Indicator of Economic Activity (RIEA) indicates that the economic activity of the Autonomous Region of Madeira, in May, reinforced the growth path started in the previous month. It should be recalled that in the same month the economy was heavily conditioned by restrictive measures to combat the pandemic.
As mentioned in the first release of RIEA, in October 2017, its purpose 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 also be noted that the RIEA is subject to revisions whenever the final information from the Regional Accounts becomes available. In this release, the RIEA was recalculated, and the outputs of the last three years were revised downwards.
Monthly Economic Indicators – May 2021
Together with the RIEA is published the Monthly Economic Indicators – May 2021, an instrument for monitoring the economic situation, which provides the most recent data on regional economic activity.
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