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Ponta Delgada ,  June 19, 2019

Economic Activity Indicator confirms economic growth in the Azores

The Regional Director for Support to the Investment and Competitiveness highlighted in Ponta Delgada the dynamics of the Azorean economy, pointing out the impact of increased economic activity in job creation and the reduction of unemployment.
 
Ricardo Medeiros spoke on the sidelines of a visit to a catering company. According to data released by the Azores Regional Statistics Service, the Economic Activity Indicator (EAI), which assesses the general situation of the economy in the short term, registered a growth of 2.1% in April. It represents an acceleration compared to the previous month, which had recorded a variation of 2%.
 
"This growth of the EAI is reflected on some statistical series that have registered a very positive evolution in the Azores the last 12 months. This is clearly evident in the unloaded fish, slaughtered cattle, tourism sector, retail sales index and electricity production," stressed the Regional Director.
 
Ricardo Medeiros also considered that "the continuation of this favourable evolution in the regional economy will contribute to the financial strengthening of entrepreneurs and companies as well as to the emergence of new companies and new private business initiative," with the positive consequences resulting thereof.
 
In this regard, he stated that business creation ratio in the Azores continues to be the highest in the country, i.e., the creation of almost three companies for each company dissolved.
 
Ricardo Medeiros also highlighted another positive indicator: POS purchases. In May, this indicator reached 98.5 million Euros, representing a year-on-year increase of 13.9%.
 
In the last three months, the Regional Director added that POS purchases amounted to 270.3 million Euros, registering a growth of 11.1% compared to the same period of the previous year (243.3 million Euros).
 
"We continue on the right track, which gives us the encouragement we need to continue our efforts of putting the Azores and the Azoreans in the level of development that we all aim for," said Ricardo Medeiros.


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Official government press-releases presented in all foreign languages interfaces of the Azorean Government Portal (Portal do Governo dos Açores) are a sub-set of the government's official press-releases daily output and are chosen for translation and publication on the foreign language interfaces based on audience segmentation criteria. The entire collection of the Azorean government press-releases is available in portuguese, here, from the GACS Press Office site.

 
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