Indicator of Economic Activity (IEA - Açores) With this press release “Destaque”, SREA starts the communication of the Regional short-term Indicator of Economic Activity (IEA- Açores), resulting from the work carried out over the last years with the technical support from INE, that has been publishing an IEA at the national level for several years. The values achieved by the IEA in 2014 were, in general, superior than the corresponding periods in the past two years, except from September to November. In December it was reached the highest value of the last 36 months.

Quarterly Bulletin - 4th quarter of 2014 The employment estimated for the 4th quarter of 2014 in Azores, registered a positive evolution (+3,8%) when compared with same quarter of 2013 and 1,1% with the previous quarter. According to the available indicators, the Azorean economic activity has shown a global positive evolution; construction maintained a negative path.

Tourism - December 2014 Overnight stays spent in the Azorean hotel establishments increased by 23,1% in December 2014 compared with December 2013. From January to December, overnight stays spent in the Azorean hotel establishments increased by 0,9% compared with the same period in 2013. Overnight stays spent by residents increased by 6,2% and overnight stays spent by non-residents decreased by 2,0%. Guests registered an increase of 16,4% in December and an increase of 3,6% from January to December. In December 2014, the average stay was 2,58 nights (5,7%) and the bed occupancy rate stood at 13,6% (2,1 p.p.). Total revenue increased by 10,9% and revenue from accommodation increased by 18,2% in December 2014. RevPar was EUR 7,9 and registered an increase of 14,5%.

Consumer Price Index - January 2015 The 12-month average rate of the Consumer Price Index (CPI), was 0,23% in january 2015. The annual rate decreased to 0,27%. The monthly rate was in january 2015 -1,57%.

Employment Statistics – 4th quarter of 2014 The employment estimated for the 4th quarter of 2014 is up 3,8% from the same quarter of 2013 and 1,1% from previous quarter. The unemployment rate of region Azores was 15,5% and the national average was 13,5%. This value (15,5%) is down 1,8 percentage points (p.p.) from the same quarter of 2013 and 0,2 p.p. from previous quarter.