Eurostat Unveils European Statistical Monitor: September Update Highlights Economic Shifts

Today, Eurostat launched the European Statistical Monitor, a monthly updated dashboard providing short-term indicators across areas such as the economy, environment, business, health, and work. The tool offers insights on developments within the EU, EFTA countries, and member states, with a focus on tracking trends in sectors like services, industry, and retail. It also includes commentary on recent changes.

In September, the dashboard highlighted that while EU GDP continued its steady growth in Q2 2024 at 0.2%, EU production in services and industry pulled back from historic highs. The services sector, despite a 0.9% contraction in June 2024, remained above its 2021 level, while industrial production showed a slight 0.1% drop in July, marking a continued decline since early 2023. Retail trade saw modest improvement with a 0.2% increase in July, confirming stability throughout 2024.

EU inflation remained low, reaching 2.8% in July, with eurozone inflation further dropping to 2.2% in August, its lowest since 2022. Economic sentiment in the EU improved for the month, driven by increased confidence in industry, retail, and services.