While consumption of services started to recover around the same time, it remained roughly 12 percent below its pre-pandemic level through to the beginning of 2021. Only recently have we seen a meaningful increase in services consumption, but it is still 4 percent below where it was before the pandemic.
In this respect, it is crucial that policies aimed at increasing the level of competition and at liberalising the product markets include the extension and deepening of the EU internal market. The internal market policies have already contributed to an increase in employment and real income in the EU.