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The results contained in this release reflect some of the economic impacts of the COVID-19 situation. For further information see Information Note on Implications of COVID-19 on the Monthly Services Index April 2022
In April 2022 the value of services decreased by 6.9% when compared to March 2022.
Accommodation and Food Service Activities (+12.7%) and Other Service Activities (+6.0%) recorded the largest monthly value increases.
The value of services output was 23.1% higher in April 2022 compared with April 2021.
The value of services in April 2022 was 16.6% higher than February 2020 (26 months earlier and pre-COVID-19).
The volume of services in April 2022 decreased by 3.1% when compared to March 2022.
The sectors with the highest monthly volume increases were Other Service Activities (+5.3%) and Transport and Storage (+5.3%).
Services were 22.0% higher in volume terms in April 2022 compared with April 2021.
The volume of services in April 2022 was 17.8% higher than February 2020 (26 months earlier and pre-COVID-19).
The headline table shows the seasonally adjusted value and volume indices for Monthly Services index. It also highlights the monthly and annual percentage change in both value and volume and overall changes since February 2020 (pre-COVID-19).
| Seasonally Adjusted Monthly Services Index | Base Year( 2015=100) | ||
| Value Index | Volume Index | ||
| April 2020 | 97.9 | 90.4 | |
| April 2021 | 120.2 | 112.0 | |
| March 2022 | 159.0 | 141.0 | |
| April 2022 | 147.9 | 136.6 | |
| % change | |||
| Monthly | -6.9% | -3.1% | |
| Annual | 23.1% | 22.0% | |
| February 2020 - April 2022 | 16.6% | 17.8% | |
| Business Sectors | Month on Month | Year on Year |
|---|---|---|
| Professional, Scientific and Technical Activities | -0.59048 | 1.62043 |
| Administrative and Support Service Activities | -0.09768 | 0.66807 |
| Accommodation and Food Service Activities | 0.45894 | 3.691 |
| Information and Communication | -7.50717 | 8.64907 |
| Other Service Activities | 0.22889 | 2.69559 |
| Transportation and Storage | 0.25467 | 2.97631 |
| Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles | 0.31007 | 2.79797 |
Annual value percentage changes, February 2020 (pre-COVID-19) to April 2022
Some sectors had dramatic annual value changes in April 2022 but are still lower or similar to their pre-COVID-19 level. Accommodation and Food Service Activities increased by 217% annually but are still 7.9% lower than their per COVID-19 level in February 2020.
The annual value increase in the Information and Communication sector in April 2022 was 16.9%. This sector has increased 35.7% since February 2020.
| Business Sectors | April 2021 - April 2022 | February 2020 - April 2022 |
|---|---|---|
| All Services | 23 | 16.6 |
| Wholesale and retail trade; repair of motor vehicles and motorcycles (G) | 11.6 | 13.5 |
| Transportation and storage (H) | 41.3 | -5.7 |
| Accommodation and food service activities (I) | 217.4 | -7.9 |
| Information and communication (J) | 16.9 | 35.7 |
| Professional, scientific and technical activities (M) | 17.2 | 2.4 |
| Administrative and support service activities (N) | 17.5 | -11.4 |
| Other service activities ( NACE 68,92-93,95-96) | 103.1 | 0.9 |
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Statistician's Comment
Commenting on the release, Stephanie Kelleher, Statistician in the Business Division, said: "Monthly Services decreased by 6.9% in April 2022, while volume also decreased by 3.1%.
Value Monthly Change
The value of services output in April 2022 decreased by 6.9% when compared with March 2022 on a seasonally adjusted basis. . In April, several sectors showed an increase in activity compared to the previous month. The largest monthly increases were recorded in Accommodation and Food Service Activities (+12.7%), Other Service Activities (+6.0%) and Transportation and Storage (+3.4%). Decreases were recorded in Information and Communication (-14.2%), Professional, Scientific and Technical Activities (-6.6%) and Administrative and Support Service Activities (-2.8%).
Value Annual Change
On an annual basis, the value of services was 23.1% higher in April 2022 compared with April 2021. All sectors showed an increase in activity compared to April 2021, a number of sectors showed large annual increases. The largest annual increases were in Accommodation and Food Service Activities (+218%), Other Service Activities (+103%) and Transportation and Storage (+41.3%). Caution should be exercised when interpreting these increases, as the comparison is with a very low base from a year ago when Level 5 restrictions were in force. Other sectors which also showed an increase when compared to the same period of the previous year were Administrative and Support Service Activities (+17.5%), Professional and Scientific and Technical Activities (+17.1%), Information and Communication (+16.9%) and Wholesale and Retail Trade (+11.7%).
Volume Monthly Change
The volume of services output in April 2022 decreased by 3.1% when compared with March 2022 on a seasonally adjusted basis. The sectors with the highest monthly volume increases were Other Service Activities (+5.3%), Transportation and Storage (+5.3%) and Accommodation and Food Service Activities (+4.1%). Administrative and Support Service Activities (-5.3%), Professional Scientific and Technical Activities (-4.3%) and Information and Communication (-1.5%) were the sectors to show a decrease in the volume of activity in the month.
Volume Annual Change
On an annual basis, services were 22.0% higher in volume terms in April 2022 compared with April 2021. All sectors showed an increase in volume. The largest annual increases were in Accommodation and Food Service Activities (+195%), Other Service Activities (+92.1%), Transportation and Storage (+26.5%) Information and Communication (+23.9%) and Professional Scientific and Technical Activities (+15.4%).
Change of Services in April 2022 compared with pre-COVID-19
The volume of services in April 2022 was 17.8% higher than February 2020 (26 months earlier and pre-COVID-19) with a number of sectors showing an increase from February 2020 levels. These included Information and Communication (+43.4%), Wholesale and Retail Trade (+7.3%) and Professional, Scientific and Technical Activities (+4.1%). Accommodation and Food Service Activities (-20.8%), Administrative and Support Service Activities (-16.1%), Transportation and Storage (-12.3%) and Other Service Activities (-5.4%) were the sectors showing a decrease in activity since February 2020.
The value of services in April 2022 was 16.6% higher than February 2020 (26 months earlier and pre-COVID-19). The sectors to show an increase since February 2020 are Information and Communication (+35.7%), Wholesale and Retail Trade (+13.5%), Professional Scientific and Technical Activities (+2.4%) and Other Service Activities (+0.9%). The sectors to record a decrease in activity were Administrative and Support Service Activities (-11.4%), Accommodation and Food Service Activities (-7.9%) and Transportation and Storage (-5.7%)."