Insee Première · June 2021 · n° 1862

Market Services in 2020 The Fall in Production is Offset by Accommodation Rentals and Digital and Technical Activities

The momentum of market services came to an abrupt halt in 2020 due to the COVID-19 pandemic. Their value added decreased by 6.7% in terms of volume, so slightly less than that of transport, the manufacturing industry and construction. Production fell in services involving direct public contact (catering, cultural and recreational market activities, personal services) and in those indirectly affected by travel restrictions (accommodation).

This shock was offset by accommodation rentals. Business is also more resilient in IT and engineering; it remains dynamic in information and telecommunications services, which saw increased demand as a result of the lockdowns.

Investment in market services remained stable (–0.6%), unlike their final consumption, which was heavily suppressed (–8.7%). The balance of foreign trade in services fell but remained positive. Employment saw less of a decline than value added (–2.5%).