Increase in household consumption represents more income and economic growth in the Azores
According to the retail sales index released by the Azores Regional Statistics Service (SREA), the purchase of food products at large retail establishments in the Region grew at 6.09% in November at constant prices and in year-on-year terms.
Considering the seasonally adjusted values, the increase reached 4.41% over the average registered in the last 12 months, which reflects a stable growth in the household consumption indicator.
Regarding other indicators related to the purchase of food products and private consumption, the SREA data on ATM withdrawals registered an overall amount of 48.4 million Euros in November, corresponding to an increase of 4.2% over the same month of the previous year.
In turn, electronic card purchases reached 85.6 million Euros in November, which represents a year-on-year increase of 11.6%.
Overall, 81.3 million Euros are related to transactions made with cards issued by national banks (+ 11.6%), while the remaining 4.3 million Euros are related to purchases made with cards issued by international banks. These figures show a positive year-on-year variation of 12.3%.