June 13, 2024

Up by 2.3% in the euro area and by 1.9% in the EU compared with March 2023

Overview

In March 2024, compared with February 2024, seasonally adjusted services production decreased by 0.4% in the euro area and by 0.6% in the EU, according to first estimates from Eurostat, the statistical office of the European Union. In February 2024, services production grew by 1.1% in the euro area and by 1.2% in the EU.

In March 2024, compared with March 2023, services production increased by 2.3% the euro area and by 1.9% in the EU.

Monthly comparison by service industry and by Member State

In the euro area in March 2024, compared with February 2024, services production

  • decreased for transportation and storage by 0.6%,

  • decreased for accommodation and food services by 1.1%,

  • remained stable for information and communication,

  • decreased for real estate activities by 0.4%,

  • decreased for professional, scientific, and technical activities by 1.3%,

  • increased for administrative and support services by 0.9%.

In the EU, services production

  • decreased for transportation and storage by 0.7%,

  • decreased for accommodation and food services by 1.1%,

  • decreased for information and communication by 0.2%,

  • decreased for real estate activities by 0.5%,

  • decreased for professional, scientific, and technical activities by 1.8%,

  • increased for administrative and support services by 0.8%.

Among Member States for which data are available, the largest monthly decreases were recorded in Hungary (-15.7%), Denmark (-4.2%) and Greece (-2.8%). The highest increases were observed in Lithuania (+3.8%), Czechia (+1.3%) and Slovenia (+0.9%).

Annual comparison by service industry and by Member State

In the euro area in March 2024, compared with March 2023, services production

  • decreased for transportation and storage by 0.3%,

  • increased for accommodation and food services by 2.6%,

  • increased for information and communication by 6.1%,

  • increased for real estate activities by 0.5%,

  • increased for professional, scientific, and technical activities by 1.0%,

  • increased for administrative and support services by 1.9%.

In the EU, services production

  • decreased for transportation and storage by 0.9%,

  • increased for accommodation and food services by 2.4%,

  • increased for information and communication by 5.5%,

  • increased for real estate activities by 0.6%,

  • increased for professional, scientific, and technical activities by 0.7%,

  • increased for administrative and support services by 1.9%.

Among Member States for which data are available, the highest annual increases were recorded in Luxembourg (+10.1%), Lithuania (+9.9%) and Malta (+9.1%). The largest decreases were observed in Hungary (-8.1%), Denmark (-7.9%) and Latvia (-4.7%).

Source: Eurostat
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