Madeira's economy maintained a growth trajectory in July, but lost momentum for the third consecutive month. Indicators reveal uneven sector performance, with slowdowns in tourism, investment, and external demand.
In tourism, overnight stays in tourist accommodations decreased by 1.5%, although total revenues increased by 6.2%. The labor market saw fewer registered unemployed and inflation eased. Despite the slowdown, the economy remained in positive territory for the 64th consecutive month.
Private consumption showed mixed results, with increases in gasoline consumption and household credit, but a decline in car sales. Investment also presented contradictory signs, with a retreat in cement and commercial vehicle sales, but an increase in credit for businesses and housing.
