In December 2024, the total production of the market in the European Union (EU) showed a slight decrease of 0.2% compared to the previous month. In the euro area, the drop was slightly more pronounced, reaching 0.4%. This decline is mainly due to a reduction in industrial production, which experienced a 0.8% decrease. However, it’s not all bad news, as other sectors such as construction, services, and trade reported positive performance, with increases of 0.4%, 0.2%, and 0.1% respectively.
The Total Market Production Index (TMPI) is a key indicator that integrates various business statistics and covers a large part of the market economy, including production in industry, construction, and services, as well as trade volume. Despite the decline in the industrial sector, when comparing the data with the same month of the previous year, there is a growth trend in total market production. In year-on-year terms, the EU experienced an increase of 0.5%, while the euro area reported a 0.4% increase.
This analysis, disseminated by Eurostat, highlights the current dynamics of the European market, where non-industrial sectors seem to be compensating for the difficulties faced by industrial production. Fluctuations in total market production are essential for evaluating the economic health of the region and offer a clear view of growth trends in different areas of the economy.
via: MiMub in Spanish