Economic Activity Indicator shows "great dynamics" of regional economy, says Regional Director
The Regional Director for Support to the Investment and Competitiveness highlighted in Santa Cruz the "great dynamics" of Graciosa's Island economy, in particular, and Azores' economy, in general, pointing out the impact of increased economic activity on jobs creation and reduction of unemployment.
According to data released by the Regional Statistics Service, the Economic Activity Indicator (EAI), which assesses the general state of the economy in the short term, registered a growth of 2.1% in the Azores in the month of August," said Ricardo Medeiros.
The Regional Director, who visited several projects under way on Graciosa, stated that this 2.1% growth "demonstrates the good situation of the regional economy."
The EAI, an index analysed and published in the Azores since 2014, monitors the evolution of the regional economy, revealing a stabilisation above 2%.
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."
"The positive evolution of the regional economy has fostered, on the one hand, the accelerated emergence of private business activities and, on the other hand, the creation of more and better jobs," emphasised the Regional Director.