In June 2022 the value of services increased by 2.0% when compared with May 2022.
Information & Communication (+4.5%) and Accommodation & Food Service Activities (+2.3%) recorded the largest monthly value increases.
The value of services output was 21.5% higher in June 2022 compared with June 2021.
The value of services in June 2022 was 22.7% higher than February 2020 (28 months earlier and pre-COVID-19).
The volume of services in June 2022 increased by 1.5% when compared with May 2022.
The sectors with monthly volume increases in June 2022 were Information & Communication (+6.7%) and Accommodation & Food Service Activities (+1.0%).
Services were 17.3% higher in volume terms in June 2022 compared with June 2021.
The volume of services in June 2022 was 21.4% higher than February 2020 (28 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 | ||
| June 2021 | 127.9 | 119.3 | |
| May 2022 | 152.4 | 137.9 | |
| June 2022 | 155.5 | 139.9 | |
| % change | |||
| Monthly | 2.0% | 1.5% | |
| Annual | 21.5% | 17.3% | |
| February 2020 - June 2022 | 22.7% | 21.4% | |
| Business Sectors | Month on Month | Year on Year |
|---|---|---|
| Professional, Scientific & Technical Activities (M) | 0.12241 | 1.5845 |
| Administrative & Support Service Activities (N) | 0.03644 | 0.8388 |
| Accommodation & Food Service Activities (I) | 0.09781 | 2.5537 |
| Information & Communication (J) | 2.16983 | 10.3563 |
| Other Service Activities (NACE 68,92-92,95-96) | -0.01059 | 1.1422 |
| Transportation & Storage (H) | -0.35204 | 3.2678 |
| Wholesale & Retail Trade; Repair of Motor Vehicles & Motorcycles (G) | -0.04679 | 1.7899 |
Annual value percentage changes, February 2020 (pre-COVID-19) to June 2022
Several sectors had significant annual value changes in June 2022 but were still lower or similar to their pre-COVID-19 level. Accommodation and Food Service Activities increased by 95.2% annually but was still 4.8% lower than their pre COVID-19 level in February 2020.
The annual value increase in the Transportation & Storage sector in June 2022 was 48.9%. This sector has decreased by 2.2% since February 2020.
| Business Sectors | June 2021 - June 2022 | February 2020 - June 2022 |
|---|---|---|
| All Services | 21.5 | 22.7 |
| Wholesale & Retail Trade; Repair of Motor Vehicles & Motorcycles (G) | 7.7 | 13.3 |
| Transportation & Storage (H) | 48.9 | -2.2 |
| Accommodation & Food Service Activities (I) | 95.2 | -4.8 |
| Information & Communication (J) | 20.7 | 45.9 |
| Professional, Scientific & Technical Activities (M) | 16 | 12.8 |
| Administrative & Support Service Activities (N) | 21.9 | -0.5 |
| Other Service Activities ( NACE 68,92-93,95-96) | 32.3 | -4 |
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Statistician's Comment
Commenting on the release, Stephanie Kelleher, Statistician in the Business Statistics Division, said: "The value of Monthly Services increased by 2.0% in June 2022, while volume increased by 1.5%.
Value Monthly Change
The value of services output in June 2022 increased by 2.0% when compared with May 2022 on a seasonally adjusted basis. The sectors that recorded monthly increases were Information & Communication (+4.5%), Accommodation & Food Service Activities (+2.3%), Professional, Scientific & Technical Activities (+1.3%) and Administrative & Support Service Activities (+0.9%). Decreases were recorded in Transportation & Storage (-4.0%), Other Service Activities (-0.3%) and Wholesale & Retail Trade (-0.2%).
Value Annual Change
On an annual basis, the value of services was 21.5% higher in June 2022 compared with June 2021. 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 (+95.2%), Transportation & Storage (+48.9%), Other Service Activities (+32.2%) and Administrative & Support Service Activities (+21.9%). Caution should be exercised when interpreting these increases, as the comparison is with a very low base from a year ago. The remaining increases were Information & Communication (+20.7%), Professional, Scientific & Technical Activities (+16.0%) and Wholesale & Retail Trade (+7.7%).
Volume Monthly Change
The volume of services output in June 2022 increased by 1.5% when compared with May 2022 on a seasonally adjusted basis. The only sectors with monthly volume increases were Information & Communication (+6.7%) and Accommodation & Food Service Activities (+1.0%). Transportation & Storage (-3.6%), Other Service Activities (-0.8%), Administrative & Support Service Activities (-0.3%), Wholesale & Retail Trade (-0.2%) and Professional, Scientific & Technical Activities (-0.1%) were the sectors to show a decrease in the volume of activity in the month.
Volume Annual Change
On an annual basis, services were 17.3% higher in volume terms in June 2022 compared with June 2021. Most sectors showed an increase in volume. The largest annual sector increases were in Accommodation & Food Service Activities (+81.4%), Transportation & Storage (+29.4%) and Other Service Activities (+24.4%). However, caution should be exercised when interpreting these increases, as the comparison is with a very low base from the previous year.
Change of Services in June 2022 compared with pre-COVID-19
The value of services in June 2022 was 22.7% higher than February 2020 (28 months earlier and pre-COVID-19). The sectors showing an increase in value since February 2020 were Information & Communication (+45.9%), Wholesale & Retail Trade (+13.3%) and Professional, Scientific & Technical Activities (+12.8%). The sectors which recorded a decrease in activity were Accommodation & Food Service Activities (-4.8%), Other Service Activities (-4.0%) and Transportation & Storage (-2.2%).
The volume of services in June 2022 was 21.4% higher than February 2020 (28 months earlier and pre-COVID-19) with a number of sectors showing an increase from February 2020 levels. These were Information & Communication (+48.3%), Professional, Scientific & Technical Activities (+8.2%) and Wholesale & Retail Trade (+5.9%). The sectors which showed the largest decrease in activity since February 2020 were Other Service Activities (-11.9%), Accommodation & Food Service Activities (-11.6%), Transportation & Storage (-11.1%) and Administrative & Support Service Activities (-10.8%)."