EU’s, Eurozone’s services output increases in July
Date
10/8/2024 5:45:48 AM
(MENAFN) Services production in the EU and the eurozone experienced a year-on-year increase of 2.6 percent in July, according to Eurostat's report released on Monday. Within the EU, notable growth was observed in various sectors, with transportation and storage services rising by 2.9 percent, accommodation and food services by 0.9 percent, information and communication by 5 percent, and real estate activities by 0.5 percent.
In addition, services production for professional, scientific, and technical activities grew by 2.7 percent, while administrative and support services saw a rise of 2.2 percent during the same period. Eurostat highlighted that Malta recorded the highest annual increase at 13.6 percent, followed by Poland at 9.4 percent and Lithuania at 8.8 percent. Conversely, Romania experienced the largest decrease at -9.3 percent, with Greece and Austria following at -6.4 percent and -4.4 percent, respectively.
In the eurozone, services production for transportation and storage grew by 3 percent, accommodation and food services by 0.9 percent, and information and communication services by 5.1 percent. Real estate activities remained unchanged, while professional, scientific, and technical services increased by 2.6 percent, and administrative and support services rose by 2.3 percent.
On a monthly basis, services production rose by 1.2 percent in the EU and by 1 percent in the eurozone. The highest monthly increases were reported in Denmark at 8.6 percent, Poland at 3.4 percent, and both Italy and Slovenia at 1.8 percent. In contrast, Romania, Greece, and Latvia saw the largest decreases, with reductions of 1.6 percent, 1.0 percent, and 0.3 percent, respectively. The eurozone, or EA19, comprises member states using the euro, while the EU27 includes all member countries of the European Union.
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