Services production up in EU, eurozone in July

ISTANBUL

Services production in the EU and the eurozone increased 2.6% year-on-year in July, the regional statistical office Eurostat said on Monday.

In the EU, services production for transportation and storage soared 2.9%, accommodation and food services 0.9%, information and communication 5%, and real estate activities 0.5% on an annual basis in July.

Meanwhile, services production for professional, scientific, and technical activities climbed 2.7%, while administrative and support services rose 2.2% over the same period.

“Among Member States, (…) the highest annual increases were recorded in Malta (+13.6%), Poland (+9.4%) and Lithuania (+8.8%). The largest decreases were observed in Romania (-9.3%), (Greece (-6.4%) and Austria (-4.4%),” said Eurostat.

In the eurozone, services production for transportation and storage rose 3%, accommodation and food services 0.9%, and information and communication 5.1%, while services production for real estate activities remained flat.

At the same time, services production for professional, scientific, and technical activities climbed by 2.6%, while administrative and support services increased by 2.3%.

On a monthly basis, services production in the EU and the eurozone rose by 1.2% and 1%, respectively.

“The highest monthly increases were recorded in Denmark (+8.6%), Poland (+3.4%) as well as in Italy and Slovenia (both +1.8%). The largest decreases were observed in Romania (-1.6%), Greece (-1.0%) and Latvia (-0.3%),” according to Eurostat.

The eurozone/euro area, or EA19, represents member states that use the bloc’s single currency, the euro, while the EU27 includes all member countries.