Value of services increased in June – CSO
The value of services increased by 2% in June when compared to the previous month, according to new figures from the Central Statistics Office (CSO). The biggest monthly increases were recorded in the value of information and communication services, and accommodation and food services.
Decreases were recorded in transportation and storage, other service activities, and wholesale and retail trade. The figures show the value of services output was 21.5% higher in June when compared to the same month last year. When compared to February 2020, before the pandemic, the value of services in June 2022 was 22.7% higher.
The sectors showing an increase in value since February 2020 were information and communication, wholesale and retail trade and professional, scientific and technical activities. The sectors which recorded a decrease in activity were accommodation and food service activities, other service activities and transportation and storage.
The volume of services in June increased by 1.5% when compared to the previous month. Again, the information and communication services, and accommodation and food services saw the largest monthly volume increases. Services were over 17% higher in volume terms in June 2022 when compared to the same month last year.
“Caution should be exercised when interpreting these increases, as the comparison is with a very low base from the previous year,” said Stephanie Kelleher, Statistician in the Business Statistics Division of the CSO.
When compared to pre-Covid times in February 2020, the volume of services in June was 21.4% higher.