Today’s release provides the latest Monthly Services Index in a new, rebased series using base year 2021 as 100.
In February 2025, the value of services rose by 3.0% when compared with January 2025.
The value of services output was 21.2% higher in February 2025 in comparison with February 2024.
The volume of services was up by 6.3% in February 2025 when compared with January 2025.
Annually, services were 19.2% higher in volume terms in February 2025 when compared with February 2024.
The CSO has introduced a new Modified Monthly Services Index, which is included as a new section within this release. The new Modified Monthly Services Index, which represents All Services excluding Information & Communication sector, was up 1.7% in value and 2.4% in volume in February 2025 when compared with January 2025.
This Monthly Services Index (MSI) has been compiled with reference to base year 2021=100 as per Eurostat Regulation. The new series has been calculated using updated weights from the Annual Services Inquiry 2021. We would like to thank the enterprises who took the time to fill out this survey. More information is available in the Background Notes section of this release.
The CSO will now be producing a new Modified Monthly Services Index as part of this release to provide greater insight into Ireland's services economy. This new indicator will consist of All Services excluding the Information & Communication sector, which has a significant impact on the overall index due to its scale. The Modified Monthly Services Index has been developed in response to stakeholders who sought additional insights into the services economy and will be available in a dedicated section within this release.
Figure 3 and Table 3 shows the seasonally adjusted value and volume indices for the Modified Monthly Service Index.
The headline table shows the seasonally adjusted value and volume indices for the Monthly Services Index. It also highlights the monthly and annual percentage change in both value and volume. Value indices represent turnover, whereas volume indices represent deflated turnover which strips out the impact of price changes. Volume indices show changes in the amount of business activity in the services sector over time. In general, it should be noted that the results presented in this release can reflect changes in the reporting practices of enterprises and this can lead to short-term volatility in the results.
| Seasonally Adjusted Monthly Services Index | Base Year (2021=100) | ||
| Value Index | Volume Index | ||
| February 2025 | 158.2 | 142.5 | |
| January 2025 | 153.6 | 134.0 | |
| February 2024 | 130.5 | 119.5 | |
| % change | |||
| Monthly | 3.0% | 6.3% | |
| Annual | 21.2% | 19.2% | |
Figure 1 shows the seasonally adjusted value and volume indices for the Monthly Service Index.
Figure 2a presents the monthly seasonally adjusted value and volume percentage changes for February 2025 compared with January 2025.
| Business Sectors | Monthly Seasonally Adjusted Value | Monthly Seasonally Adjusted Volume |
|---|---|---|
| Wholesale & Retail Trade; Repair of Motor Vehicles & Motorcycles | 4.7 | 5.3 |
| Transportation & Storage | 2.3 | 2.5 |
| Accommodation & Food Service Activities | 1.6 | 3.8 |
| Information & Communication | 3.9 | 5.7 |
| Professional, Scientific & Technical Activities | -1.6 | -3 |
| Administrative & Support Service Activities | -3.4 | -2.8 |
| Other Service Activities | 7.4 | 6.7 |
| All Services | 3 | 6.3 |
Figure 2b shows the annual seasonally adjusted value and volume percentage changes for February 2025 compared with February 2024.
| Business Sectors | Annual Seasonally Adjusted Value | Annual Seasonally Adjusted Volume |
|---|---|---|
| Wholesale & Retail Trade; Repair of Motor Vehicles & Motorcycles | 0.8 | 0.3 |
| Transportation & Storage | 10.3 | 7.6 |
| Accommodation & Food Service Activities | 1.2 | -1.1 |
| Information & Communication | 36.7 | 32.3 |
| Professional, Scientific & Technical Activities | 2.1 | -2.8 |
| Administrative & Support Service Activities | 6.1 | 3.4 |
| Other Service Activities | 21.7 | 17.9 |
| All Services | 21.2 | 19.2 |
This month's release sees the introduction of the new Modified Monthly Services Index. In February 2025, the new Modified Monthly Services Index, which represents All Services excluding Information and Communication sector, was up 1.7% in value and 2.4% in volume when compared with January 2025.
Tables 4 to 10 present seasonally adjusted value and volume for detailed sectors.
The format of this release is under review. We welcome feedback from readers of this release.
Learn about our data and confidentiality safeguards, and the steps we take to produce statistics that can be trusted by all.
Statistician's Comment
The Central Statistics Office (CSO) has today (08 April 2025) published Monthly Services Index February 2025 (Provisional) and January 2025 (Final).
Commenting on the release, Tommy Allen, Statistician in the Enterprise Statistics Division said: "The monthly value of services was up 3.0% in February 2025, while the volume rose by 6.3% when compared with January 2025. This Monthly Services Index has been compiled with reference to base year 2021=100. This new series will now include a new Modified Monthly Services Index, which will be included in this release in a dedicated section, to provide greater insight into Ireland's services economy. This new indicator will consist of All Services excluding the Information & Communication sector, which has a significant impact on the overall index due to its scale. For more information on this new indicator, please see the accompanying Press Statement.
Value Monthly Change
The value of services output in February 2025 rose by 3.0% when compared with the previous month on a seasonally adjusted basis. The sectors that recorded monthly increases were Other Service Activities (+7.4%), Wholesale & Retail Trade (+4.7%), Information & Communication (+3.9%), Transportation & Storage (+2.3%), and Accommodation & Food Service Activities (+1.6%). Decreases were observed in Administrative & Support Service Activities (-3.4%) and Professional, Scientific & Technical Activities (-1.6%).
Value Annual Change
Looking at value changes on an annual basis, the value of services was 21.2% higher in February 2025 when compared with February 2024. The largest annual growth was recorded in Information & Communication (+36.7%). Increases were also observed in Other Service Activities (+21.7%), Transportation & Storage (+10.3%), Administrative & Support Service Activities (+6.1%), Professional, Scientific & Technical Activities (+2.1%), Accommodation & Food Service Activities (+1.2%), and Wholesale & Retail Trade (+0.8%).
Volume Monthly Change
The volume of services output in February 2025 was up by 6.3% when compared with the previous month on a seasonally adjusted basis. The sectors with monthly increases were Other Service Activities (+6.7%), Information & Communication (+5.7%), Wholesale & Retail Trade (+5.3%), Accommodation & Food Service Activities (+3.8%), and Transportation & Storage (+2.5%). The sectors with monthly decreases were Professional, Scientific & Technical Activities (-3.0%) and Administrative & Support Service Activities (-2.8%).
Volume Annual Change
On an annual basis, services were 19.2% higher in volume terms in February 2025 when compared with February 2024. The largest annual increases were in Information & Communication (+32.3%) and Other Service Activities (+17.9%). Growth was also observed in Transportation & Storage (+7.6%), Administrative & Support Service Activities (+3.4%), and Wholesale & Retail Trade (+0.3%). A decline was observed in both Professional, Scientific & Technical Activities (-2.8%) and Accommodation & Food Service Activities (-1.1%)."