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In March 2025, the value of services rose by 4.5% when compared with February 2025.
The value of services output was 25.4% higher in March 2025 in comparison with March 2024.
The volume of services was up by 3.6% in March 2025 when compared with February 2025.
Annually, services were 22.0% higher in volume terms in March 2025 when compared with March 2024.
The largest monthly increases in both value and volume were recorded in Information & Communication which grew by 10.0% and 10.1% respectively.
The new Modified Monthly Services Index, which represents All Services excluding the Information & Communication sector, was down 3.5% in value and 2.0% in volume in March 2025 when compared with February 2025.
The CSO is now producing a new Modified Monthly Services Index as part of this release to provide greater insight into Ireland's services economy. This new indicator consists of All Services excluding the Information & Communication sector, which has a significant impact on the overall index due to its scale (see Figure 3 and Table 3).
The Modified Monthly Services Index has been developed in response to stakeholders who sought additional insights into the services economy.
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 | ||
| March 2025 | 167.0 | 148.1 | |
| February 2025 | 159.8 | 142.9 | |
| March 2024 | 133.1 | 121.4 | |
| % change | |||
| Monthly | 4.5% | 3.6% | |
| Annual | 25.4% | 22.0% | |
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 March 2025 compared with February 2025.
| Business Sectors | Monthly Seasonally Adjusted Value | Monthly Seasonally Adjusted Volume |
|---|---|---|
| Wholesale & Retail Trade; Repair of Motor Vehicles & Motorcycles | -1.7 | -1.4 |
| Transportation & Storage | -4.5 | -4.7 |
| Accommodation & Food Service Activities | 0.1 | -0.5 |
| Information & Communication | 10 | 10.1 |
| Professional, Scientific & Technical Activities | -6.4 | -5.2 |
| Administrative & Support Service Activities | -5.1 | -0.2 |
| Other Service Activities | -3 | -3.3 |
| All Services | 4.5 | 3.6 |
Figure 2b shows the annual seasonally adjusted value and volume percentage changes for March 2025 compared with March 2024.
| Business Sectors | Annual Seasonally Adjusted Value | Annual Seasonally Adjusted Volume |
|---|---|---|
| Wholesale & Retail Trade; Repair of Motor Vehicles & Motorcycles | -2.8 | -3.5 |
| Transportation & Storage | 0.2 | -2.3 |
| Accommodation & Food Service Activities | 1.8 | -2.4 |
| Information & Communication | 50.4 | 47.2 |
| Professional, Scientific & Technical Activities | -5.5 | -6.7 |
| Administrative & Support Service Activities | -4.9 | -6.5 |
| Other Service Activities | 13.8 | 10 |
| All Services | 25.4 | 22 |
In March 2025, the new Modified Monthly Services Index, which represents All Services excluding Information and Communication sector, was down 3.5% in value and 2.0% in volume when compared with February 2025. Annually, the Modified Monthly Services Index decreased by 1.7% in value and 2.0% in volume when compared with March 2024.
Tables 4 to 10 present seasonally adjusted value and volume for detailed sectors.
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Statistician's Comment
The Central Statistics Office (CSO) has today (07 May 2025) published Monthly Services Index March 2025 (Provisional) and February 2025 (Final).
Commenting on the release, Tommy Allen, Statistician in the Enterprise Statistics Division said: "The monthly value of services was up 4.5% in March 2025, while the volume rose by 3.6% when compared with February 2025. Strong quarter-end returns were observed in the Information and Communication sector resulting in monthly increases in both value and volume of 10.0% and 10.1% respectively. Short-term volatility can be common in monthly indices, with this in mind the Central Statistics Office (CSO) recommends that analysts take a longer-term view of the indices.
Users should note that this release now includes the new Modified Monthly Services Index which provides greater insight into Ireland's services economy. This new indicator represents All Services excluding the Information & Communication sector, which has a significant impact on the overall index due to its scale.
Value Monthly Change
The value of services output in March 2025 rose by 4.5% when compared with the previous month on a seasonally adjusted basis. The sectors that recorded monthly increases were Information & Communication (+10.0%) and Accommodation & Food Service Activities (+0.1%). Decreases were observed in Professional, Scientific & Technical Activities (-6.4%), Administrative & Support Service Activities (-5.1%), Transportation & Storage (-4.5%), Other Service Activities (-3.0%), and Wholesale & Retail Trade (-1.7%).
Value Annual Change
Looking at value changes on an annual basis, the value of services was 25.4% higher in March 2025 when compared with March 2024. The largest annual growth was recorded in Information & Communication (+50.4%). Increases were also observed in Other Service Activities (+13.8%), Accommodation & Food Service Activities (+1.8%), and Transportation & Storage (+0.2%). Annual decreases were recorded in Professional, Scientific & Technical Activities (-5.5%), Administrative & Support Service Activities (-4.9%), and Wholesale & Retail Trade (-2.8%).
Volume Monthly Change
The volume of services output in March 2025 was up by 3.6% when compared with the previous month on a seasonally adjusted basis. The only sector with a monthly increase was Information & Communication (+10.1%). The sectors with monthly decreases were Professional, Scientific & Technical Activities (-5.2%), Transportation & Storage (-4.7%), Other Service Activities (-3.3%), Wholesale & Retail Trade (-1.4%), Accommodation & Food Service Activities (-0.5%), and Administrative & Support Service Activities (-0.2%).
Volume Annual Change
On an annual basis, services were 22.0% higher in volume terms in March 2025 when compared with March 2024. The largest annual increases were in Information & Communication (+47.2%) and Other Service Activities (+10.0%). A decline was observed in Professional, Scientific & Technical Activities (-6.7%), Administrative & Support Service Activities (-6.5%), Wholesale & Retail Trade (-3.5%), Accommodation & Food Service Activities (-2.4%), and Transportation & Storage (-2.3%)."