Market services in 2012 – Sharp slowdown in growth

In 2012 the value-added of market services grew by 0.5% in volume, after + 2.1% in 2011. Employment nonetheless continued to grow slightly: + 0.2%, i.e. 31,000 extra full-time equivalent jobs. Services were affected by sluggish domestic demand: demand from enterprises and government agencies for services slowed (+ 1.0%, after + 3.2% in 2011), as did demand from households (+ 0.4%, after + 1.5% in 2011). Information and communication activities remained the most dynamic. Leisure and cultural activities were the hardest hit by the drop in household purchasing power. The foreign trade deficit in market services widened once again (- €4.1 billion in 2012, after - 1.8 billion in 2011).