Today, Eurostat released the European Statistical Monitor, a dashboard with monthly and quarterly indicators covering different areas, such as economy, environment, business, health and work.
This monthly updated dashboard is designed to track developments within the EU as a whole and its members, as well as the EFTA countries, providing a holistic overview of key developments. The accompanying Eurostat commentary on the latest developments and the key trends can be accessed by clicking the yellow button located in the top-left corner.
EU economy contracts, inflation rises, while the labour market remains strong
The EU economy shrank for the first time in 3 years, while inflation marginally increased. At the same time, economic sentiment slightly edged up, remaining well below its long-term average.
The labour market continued to show strong fundamentals, with employment reaching a historic high and labour market slack decreasing further. Both unemployment and the job vacancy rate held steady. The number of first-time asylum seekers recorded a slight increase.
Among monthly business and trade indicators, industrial production showed a mild increase, while retail trade volume declined. Production in services increased.
The European Statistical Monitor is updated every month with the latest available data for each indicator.