In October 2020
Regional economy remains in the red, but with a slighter better performance than in the previous month
The Regional Indicator of Economic Activity (IRAE) indicates that regional economic activity in October 2020, although in contraction, recovered slightly compared to the last month.
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 also be noted that the IRAE is subject to revisions whenever the final information from the Regional Accounts becomes available. In this release, the IRAE was recalculated and the outputs of the last three years revised downwards.
Monthly Economic Indicators – October 2020
Together with the RIEA is published the Monthly Economic Indicators - October 2020, an instrument for monitoring the economic situation, which provides the most recent data on regional economic activity.
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