European Statistical Recovery Dashboard: October edition

Today, Eurostat released the October edition of the interactive European Statistical Recovery Dashboard. 

The dashboard contains monthly and quarterly indicators from a number of statistical areas relevant to tracking the economic and social recovery from the COVID-19 pandemic, across countries and time.

October highlights: Continued subdued growth alongside a resilient labour market and declining inflation

EU industrial production rose month-on-month in August 2023, though it did not offset the decline in July. In contrast, retail trade continued to fall in August 2023. Production in services increased slightly in July 2023, though it did not offset the decrease in June. While these indicators remain above their pre-pandemic levels, they continue to signal subdued growth momentum in the EU economy, alongside a resilient labour market and decreasing inflation.

The EU labour market showed a robust performance in August 2023, with the unemployment rate returning to the historically low levels seen in May and June 2023. Meanwhile, the euro area's annual inflation rate decreased to 4.3% in September 2023, signalling a further cooling of underlying price pressures. 

In September 2023, EU economic sentiment dipped further below its pre-pandemic level. This decrease was predominantly driven by a marked decline of confidence among consumers. Confidence in the construction sector and, to a lesser extent, the retail sector also slipped. However, confidence remained broadly stable in the industry and services sectors. 

At the EU level, excess mortality increased in August 2023, but it remained at a relatively low rate.
You can read the full analysis by clicking ‘Eurostat commentary’ on the dashboard’s header. 

The dashboard is updated every month with the latest available data for each indicator.

 
The line charts in the dashboard offer many functionalities to easily explore and analyse the development of the indicators, such as displaying a longer time series, comparing several countries and downloading the customised chart or the source dataset.