In January 2025, the value of services rose by 1.7% when compared with December 2024.
The value of services output was 11.3% higher in January 2025 in comparison with January 2024.
The volume of services was up by 0.7% in January 2025 when compared with December 2024.
Services were 10.0% higher in volume terms in January 2025 when compared with January 2024.
The largest monthly increases in both value and volume were recorded in Professional, Scientific & Technical Activities which grew by 8.4% and 9.7% respectively.
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 (2015=100) | ||
| Value Index | Volume Index | ||
| January 2025 | 191.4 | 164.8 | |
| December 2024 | 188.2 | 163.7 | |
| January 2024 | 172.0 | 149.8 | |
| % change | |||
| Monthly | 1.7% | 0.7% | |
| Annual | 11.3% | 10.0% | |
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 January 2025 compared with December 2024.
| Business Sectors | Monthly Seasonally Adjusted Value | Monthly Seasonally Adjusted Volume |
|---|---|---|
| Wholesale & Retail Trade; Repair of Motor Vehicles & Motorcycles | -3.4 | -3.6 |
| Transportation & Storage | 2.6 | 2.4 |
| Accommodation & Food Service Activities | -4.9 | -3.2 |
| Information & Communication | 3.3 | 3.7 |
| Professional, Scientific & Technical Activities | 8.4 | 9.7 |
| Administrative & Support Service Activities | -3.9 | -3.8 |
| Other Service Activities | 4.3 | 2.6 |
| All Services | 1.7 | 0.7 |
Figure 2b shows the annual seasonally adjusted value and volume percentage changes for January 2025 compared with January 2024.
| Business Sectors | Annual Seasonally Adjusted Value | Annual Seasonally Adjusted Volume |
|---|---|---|
| Wholesale & Retail Trade; Repair of Motor Vehicles & Motorcycles | 1.9 | 0.7 |
| Transportation & Storage | 9.6 | 5.2 |
| Accommodation & Food Service Activities | 10 | 7.1 |
| Information & Communication | 13.9 | 14.9 |
| Professional, Scientific & Technical Activities | 17.1 | 16.2 |
| Administrative & Support Service Activities | 13.6 | 13.1 |
| Other Service Activities | 18.7 | 13.1 |
| All Services | 11.3 | 10 |
Figure 3 shows the positive and negative contributions of each sector to the monthly and annual value change in the Monthly Services index.
| X-axis label | Month on Month | Year on Year |
|---|---|---|
| Wholesale & Retail Trade; Repair of Motor Vehicles & Motorcycles | -0.68232 | 0.39888 |
| Transportation & Storage | 0.21019 | 0.79746 |
| Accommodation & Food Service Activities | -0.22072 | 0.42773 |
| Information & Communication | 1.68818 | 7.0002 |
| Professional, Scientific & Technical Activities | 0.67405 | 1.38713 |
| Administrative & Support Service Activities | -0.14531 | 0.46645 |
| Other Service Activities | 0.19859 | 0.82356 |
Tables 3 to 9 present seasonally adjusted value and volume for detailed sectors.
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Statistician's Comment
The Central Statistics Office (CSO) has today (10 March 2025) published Monthly Services Index January 2025 (Provisional) and December 2024 (Final).
Commenting on the release, Tommy Allen, Statistician in the Enterprise Statistics Division said: "The monthly value of services was up 1.7% in January 2025, while the volume rose by 0.7% when compared with December 2024.
Value Monthly Change
The value of services output in January 2025 rose by 1.7% when compared with the previous month on a seasonally adjusted basis. The sectors that recorded monthly increases were Professional, Scientific & Technical Activities (+8.4%), Other Service Activities (+4.3%), Information & Communication (+3.3%), and Transportation & Storage (+2.6%). Decreases were observed in Accommodation & Food Service Activities (-4.9%), Administrative & Support Service Activities (-3.9%), and Wholesale & Retail Trade (-3.4%).
Value Annual Change
On an annual basis, the value of services was 11.3% higher in January 2025 when compared with January 2024. The largest annual growth was recorded in Other Service Activities (+18.7%). Increases were also observed in Professional, Scientific & Technical Activities (+17.1%), Information & Communication (+13.9%), Administrative & Support Service Activities (+13.6%), Accommodation & Food Service Activities (+10.0%), Transportation & Storage (+9.6%), and Wholesale & Retail Trade (+1.9%).
Volume Monthly Change
The volume of services output in January 2025 was up by 0.7% when compared with the previous month on a seasonally adjusted basis. The sectors with monthly increases were Professional, Scientific & Technical Activities (+9.7%), Information & Communication (+3.7%), Other Service Activities (+2.6%), and Transportation & Storage (+2.4%). The sectors with monthly decreases were Administrative & Support Service Activities (-3.8%), Wholesale & Retail Trade (-3.6%), and Accommodation & Food Service Activities (-3.2%).
Volume Annual Change
On an annual basis, services were 10.0% higher in volume terms in January 2025 when compared with January 2024. The largest annual increases were in Professional, Scientific & Technical Activities (+16.2%) and Information & Communication (+14.9%). Growth was also observed in Administrative & Support Service Activities (+13.1%), Other Service Activities (+13.1%), Accommodation & Food Service Activities (+7.1%), Transportation & Storage (+5.2%), and Wholesale & Retail Trade (+0.7%)."