This month, Eurostat releases for the first time a new short-term statistics indicator on the production of services in the business economy. The indicator was introduced with the European Business Statistics Regulation; it will be published on a monthly basis 60 days after the end of the reference month. The indicator covers transportation, accommodation and food services, information and communication services, real estate activities, scientific and technical services as well as office support activities. Financial and public services are not part of the indicator.
In March 2022, the production of most service industries in the EU had recovered to surpass the pre-COVID-19 level. In total, services in March 2022 were almost 8% higher than in February 2020. The only exception to this positive trend were accommodation & food services, which were still 15% below what they had been before the COVID-19 pandemic.
In March 2022, the service industries that recorded the best recovery in production since February 2020 were information & communication activities (+16%), transportation & storage activities (+11%) and professional, scientific & technical activities (+8%).
Source dataset: sts_sepr_m
The service industries most strongly affected by the COVID-19 pandemic and the ensuing containment measures were food & beverage, accommodation, air transport and travel agencies & tour operators.
In January 2022 (the latest period for which detailed data are available), the index for the production of food & beverage services was 14% lower than before the COVID-19 crisis. Meanwhile, indices for the production of accommodation and air transport services were 28% lower than before the pandemic. Travel agency & tour operator services took the biggest hit, recording a decrease of 49%.
Source dataset: sts_sepr_m
For more information:
- Statistics Explained article on services production (volume) index overview
- Dedicated section on short-term business statistics
- Database on short-term business statistics
- Dedicated section on Covid-19 related statistics
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