In September 2021

Madeira’s economy continued to grow, although at a slower pace

The Regional Indicator of Economic Activity (RIEA) indicates that, in the month of September, the regional economic activity continued to grow, although at a slower rate than in the previous month.

As mentioned in the first release of RIEA, in October 2017, its purpose is “to signal the behavior 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 RIEA is subject to data revision whenever the final information of the Regional Accounts becomes available. In this release, RIEA was recalculated, which resulted in a revision of the previously released figures and in more pronounced changes of the RIEA in the recent past.

It should also be noted that for 2019 and 2020, as in previous years, the IRAE was in line with the real change of GDP for those years.

Monthly Economic Indicators – September 2021

Together with the RIEA is published the Monthly Economic Indicators – September 2021, an instrument for monitoring the economic situation, which provides the most recent data on regional economic activity.

For more information, please click on:

• RIEA - In Focus (Portuguese only)

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