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Eurostat Data Indicates Sustained Service Sector Growth In The EU

Eurostat released encouraging figures for January 2026, revealing continued robust growth in the service sector across the euro area and the broader European Union. The data highlights month-over-month and year-over-year improvements, underscoring a resilient recovery in key service industries.

Positive Momentum Across Regions

Seasonally adjusted data show services output increased by 1.2% in the euro area and 0.6% in the EU compared with December 2025. Previous data showed no growth in the euro area and a 0.4% increase in the EU. The latest figures indicate faster growth compared to the previous month.

Sector-Specific Performance

Information and communication grew by 4.3% in the euro area. Transportation and storage increased by 1.1%, while real estate and professional, scientific, and technical activities rose by 0.4% and 0.2%. Accommodation and food services declined by 0.7%, and administrative and support services fell by 0.5%.

Annual Trends And National Variations

Year-on-year, services output increased by 1.5% in the euro area and 1.4% in the EU compared with January 2025. Estonia recorded the highest monthly growth at 22.1%, followed by Greece at 4.9% and Germany at 2.9%. Romania, Denmark, and Poland recorded the largest monthly declines. On an annual basis, Estonia grew by 20.0%, while Romania, Hungary, and Luxembourg declined.

Implications For A Digital-Driven Economy

Information and communication services increased by 6.6% year-on-year in the euro area. Growth in this segment reflects expanding activity in digital services. The data indicate continued demand for digital infrastructure and related services across the region.

Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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