The economy is picking up again in the Principality


IMSEE has published its economic bulletin for the second quarter of 2021, reflecting the results of the first six months of the year.

” We are on the right path. The trend is on the rise with a recovery in certain sectors, which are returning to their pre-crisis levels. If Sophie Vincent has refrained from adopting a cautious attitude on the set of Monaco Info, the director of the Monegasque Institute for Statistics and Economic Studies nevertheless underlined the encouraging results revealed by this second quarterly economic report.

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Compared with 2020, a year marked by six weeks of confinement which had a strong impact on Monegasque economic activity, the trend is upward, as evidenced by the turnover of companies in the Principality. “It reached 7.15 billion euros at the end of June. This is a very positive indicator “, underlined Sophie Vincent, who also mentioned the retail trade, which made” a marked improvement in clothing, jewelry or even the automobile “.

Accommodation / catering and events remain affected

While accommodation and catering and events logically remain the most affected sectors compared to 2019, despite rising indicators, some sectors are experiencing promising rebounds, such as the resale market, which is growing strongly, or the use of public parking lots, which is also increasing.

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Even if it also remains down compared to 2019, the job market is clearly on the rise, with the number of hours worked increasing by 5 million compared to the first half of 2020. An upward trend which should be expected. naturally intensify in the coming months.