The Regional Director for Support to the Investment and Competitiveness emphasised in Ribeira Grande that the Azorean economy continues to grow in a "sustained" manner, stressing that companies and entrepreneurs have "known how to take advantage" of the conditions and support provided by the Regional Government.
 
Ricardo Medeiros spoke at the end of a visit to a timber sawing company in Rabo de Peixe, stressed that the investment in the expansion of the company's activity "also reveals the confidence in the future growth of the Region's economy."
 
According to the Regional Director, "the economic dynamics that the Azores are now experiencing is evidenced by the Economic Activity Indicator (EAI)" released by the Azores Regional Statistics Service (SREA).
 
"The EAI, which assesses the general state of the economy in the short term, registered a growth of 2.2% in October, which corresponds to the highest growth since January," Ricardo Medeiros said, defending that "the EAI has been consolidated through figures above two percent over three consecutive months."
 
The calculation of the EAI published by the Regional Statistics Service (SREA) takes into consideration the main sectors of activity in the Region. It is based on the statistical series: "Milk Delivered in Factories," "Slaughtered Cattle," "Unloaded Fish," "Energy Production," "Production of Dairy Products" and "Industrial Power Consumption."
 
Moreover, it also comprises statistical information on "Cement Sales," "Construction Workers," "Passengers landing in the Azores," "Overnight stays in Hotel Establishments," "Bank Credit Granted," "Number of Building Transactions" and "ATM Withdrawals."