The practice presents Norte Region Quarterly Economic Bulletin as a tool to monitor and disseminate the regional economic context indicators among stakeholders.
The Norte Region Quarterly Economic Bulletin gathers and analyses, since 2006, the most relevant information available for the early identification of economic trends of short-term evolution on the Norte region economic environment, in the national context.
This publication relies on the analyses on a series of statistic indicators on different thematic content, such as, labour market (employment and unemployment), international trade (regional information on commercial exchanges of goods), industrial activity, construction and housing, tourism (activity and accommodation establishment) and credit and debt information (families and enterprises).
This information is used for the monitoring of different public policies in the region, therefore it is a practical instrument to support the monitoring system of the Research & Innovation Smart Specialisation Strategy of Norte Region (RIS3 NORTE) on strategic objectives level with context indicators of our region.
This good practice and its evolution over the last 14 years, is only possible through a very persistent and successful collaboration between the Norte Region Development and Coordination Commission and other regional and national public institutions that produce statistical short-term information for Norte region.
The Bulletin is release and published on the web portal, and a press release is issued. The Bulletin is widely read by reporters, academics, professional economists, authorities and public administration.
The required resources are: (i) skilled and highly trained specialized staff; (ii) data availability, namely official statistics and regional administrative information; (iii) communication staff to assure dissemination and analyse of impact factors. We can estimate an annual cost of 30.000€.
Evidence of success
Its success can be assessed by the immediate use by the media to spread the recent trends of the regional economy (more than 80 media news, with more than 8 billion possible exposure to that news) as well as the quantitative information of visualization (more than 500 in a year) and downloads of the publication (more than 1000 in a year).
Moreover, other portuguese regions have subsequently reproduced the initiative and started to organize and publish similar bulletins.
The biggest challenge in making this publication is to find more information from different sources on a quarterly and regionalised basis. Thus, during the last 14 years the bulletin has increased with more information analysed and disseminated and from different sources of information.
Potential for learning or transfer
As stated before, other portuguese regional development and coordination commissions (NUTS II regions) have reproduced this initiative and started to organize and publish similar bulletins, recognizing the effectiveness of this tool. For example, the Centro Region Development and Coordination Commission has the “Boletim Trimestral” (www.ccdr-c.pt).
The expertise developed by the team responsible for the bulletin has been the basis of many others tasks of monitoring and analysing quantitative information useful for other long-term studies of regional trends.
The expert team producing the analyses, editing the bulletin, and disseminating the publication, maintains a permanent expertise and skill in statistics, socioeconomical trend analyses, and communication that is immediately available inhouse to provide fast-response analyses for other police monitoring projects, on demand (as needed).