In April 2024, the total production of the market experienced an increase of 0.7% in the European Union (EU) and 0.3% in the euro area compared to the previous month. These data come from the Total Market Production Index (TMPI), a composite indicator that combines four short-term business statistics, covering most of the market economy: production in industry, construction, trade, and services.
The figures were published today by Eurostat, highlighting that compared to the same month of the previous year, the total market production increased by 1.1% in the EU and 1.0% in the euro area. This increase in the EU was mainly related to growth in services production (+4.2%) and trade (+2.2%). However, industrial production and construction showed declines of -2.0% and -0.9%, respectively.
The positive evolution in the services and trade sector reflects increased demand and economic recovery in these areas, despite the challenges faced by the industry and construction. These results underscore the contrasting dynamics between different sectors of the economy, pointing to a partial but uneven recovery across the region.
The attached image shows the total market production in the EU and the euro area from January 2018 to April 2024, seasonally adjusted, with the year 2021 as the base 100.
via: MiMub in Spanish