There were marginal increases in both the value and volume of the services sector in July, according to the Central Statistics Office.

The latest Services Index shows an 0.5% monthly increase in the value of services in July, with the volume of services rising by just 0.9%.

Transportation and storage, up 4.2%, and accommodation and food service activities (+1.9%) recorded the largest monthly value increases. The value of services output was 21.4% higher in July 2022 compared with July 2021.

When compared with February 2020, 29 months earlier and pre-Covid, the value of services was 24.1% higher in July 2022.

• The volume of services in July 2022 increased by 0.9% when compared with June 2022.
• The sectors with the highest monthly volume increase in July 2022 were information & communication (+1.3%) and other service activities (+1.0%).
• Services were 17.2% higher in volume terms in July 2022 compared with July 2021.
• The volume of services in July 2022 was 21.2% higher than February 2020 (29 months earlier and pre-Covid).

Statistician Stephanie Kelleher commented: “Decreases were recorded in administrative & support service activities (-7.4%), and professional, scientific & technical activities (-4.9%).

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“All sectors showed an increase in activity compared with June 2021, with a number of sectors showing large annual increases. The largest annual increases were in accommodation & food service activities (+63.5%), transportation & storage (+55.4%), and other service activities (+31.6%).

"Caution should be exercised when interpreting these increases, as the comparison is with a very low base from a year ago."

“Services were 17.2% higher in volume terms in July 2022. Most sectors showed an increase in volume. the largest annual sector increases were in accommodation & food service activities (+50.0%) and transportation & storage (+33.7%).

“However, caution should be exercised when interpreting these increases, as the comparison is with a very low base from the previous year."

Kelleher added that the volume of services in July 2022 was 21.2% higher than February 2020, with a number of sectors showing an increase, including information & communication (+51.2%), professional, scientific & technical activities (+4.1%), and wholesale & retail trade (+3.2%).

“The sectors which showed a decrease in activity since February 2020 were administrative & support service activities (-21.1%), accommodation & food service activities (-11.7%), other service activities (-9.9%), and transportation & storage (-8.1%).

Full details and datasets are available from the CSO website here.