Sales: Retail trade: Total retail trade: Volume for the European Union
Index 2015=100, Monthly, Not Seasonally Adjusted
EU28SLRTTO01IXEBSAM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.00
Year-over-Year Change
2.66%
Date Range
1/1/1995 - 1/1/2020
Summary
This economic trend measures the European Union's service labor productivity index, which tracks changes in the output per hour worked in the service sector. It is a key indicator of economic efficiency and competitiveness.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The service labor productivity index provides insights into the productivity and efficiency of the service industry, which is a major driver of economic growth in the EU. Analysts and policymakers use this data to assess the overall health and competitiveness of the European service economy.
Methodology
This index is calculated by the statistical office of the European Union based on production and labor input data.
Historical Context
The service labor productivity index is used to inform economic and labor market policies aimed at boosting EU competitiveness.
Key Facts
- The index uses 2015 as the base year with a value of 100.
- Service industries account for over 70% of EU economic output.
- Improving service sector productivity is a key policy priority for the EU.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in service labor productivity in the European Union, providing insights into the efficiency and competitiveness of the EU's service sector.
Q: Why is this trend relevant for users or analysts?
A: The service labor productivity index is a crucial indicator for assessing the overall health and competitiveness of the European service economy, which is a major driver of growth.
Q: How is this data collected or calculated?
A: The data is calculated by the statistical office of the European Union based on production and labor input figures.
Q: How is this trend used in economic policy?
A: Policymakers use this index to inform economic and labor market policies aimed at boosting EU competitiveness and productivity in the service sector.
Q: Are there update delays or limitations?
A: The service labor productivity index is published monthly with minimal delays, providing timely insights into this important economic indicator.
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Citation
U.S. Federal Reserve, Index 2015=100, Monthly, Not Seasonally Adjusted (EU28SLRTTO01IXEBSAM), retrieved from FRED.