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International Monetary Fund. European Dept.

growth accounting is for all industries combined. Growth Rate of Value Added Volume: TFP, Key Industries (TFP Contributions to Value Added Growth, percentage points) Sources: EU KLEMS, Fund staff calculations. B. Innovation Activity and Patenting 5. Firms reported that innovation activity also declined since 2008 across industries—manufacturing and services—and across firm sizes . Innovation activity related to goods, services and processes was more common in manufacturing enterprises than in service enterprises, but both of these industries