Your feedback can help us improve and enhance our services to the public. Tell us what matters to you in our online Customer Satisfaction Survey.
In May 2022 the value of services increased by 0.7% when compared to April 2022.
Administrative & Support Service Activities (+8.1%) and Professional, Scientific & Technical Activities (+6.0%) recorded the largest monthly value increases.
The value of services output was 23.6% higher in May 2022 compared with May 2021.
The value of services in May 2022 was 19.5% higher than February 2020 (27 months earlier and pre-COVID-19).
The volume of services in May 2022 increased by 1.5% when compared to April 2022.
The sectors with the highest monthly volume increases were again Administrative and Support Service Activities (+5.7%) and Professional, Scientific & Technical Activities (+3.9%).
Services were 19.2% higher in volume terms in May 2022 compared with May 2021.
The volume of services in May 2022 was 20.0% higher than February 2020 (27 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 | ||
| May 2020 | 101.8 | 90.4 | |
| May 2021 | 122.5 | 112.0 | |
| April 2022 | 150.3 | 141.0 | |
| May 2022 | 151.4 | 136.6 | |
| % change | |||
| Monthly | 0.7% | 1.5% | |
| Annual | 23.6% | 19.2% | |
| February 2020 - May 2022 | 19.5% | 20.0% | |
| Business Sectors | Month on Month | Year on Year |
|---|---|---|
| Professional, Scientific & Technical Activities (M) | 0.54302 | 1.67735 |
| Administrative & Support Service Activities (N) | 0.29156 | 1.0146 |
| Accommodation & Food Service Activities (I) | -0.00768 | 3.73433 |
| Information & Communication (J) | 0.2368 | 9.61051 |
| Other Service Activities (NACE 68,92-92,95-96) | -0.25008 | 2.1023 |
| Transportation & Storage (H) | 0.35056 | 3.74651 |
| Wholesale & Retail Trade; Repair of Motor Vehicles & Motorcycles (G) | -0.43647 | 1.69613 |
Annual value percentage changes, February 2020 (pre-COVID-19) to May 2022
Some sectors had dramatic annual value changes in May 2022 but are still lower or similar to their pre-COVID-19 level. Accommodation and Food Service Activities increased by 246% annually but are still 8.5% lower than their per COVID-19 level in February 2020.
The annual value increase in the Information and Communication sector in May 2022 was 19.0%. This sector has increased 39.1% since February 2020.
| Business Sectors | May 2021 - May 2022 | February 2020 - May 2022 |
|---|---|---|
| All Services | 23.6 | 19.5 |
| Wholesale & Retail Trade; Repair of Motor Vehicles & Motorcycles (G) | 6.9 | 12 |
| Transportation & Storage (H) | 53.6 | 0.9 |
| Accommodation & Food Service Activities (I) | 246.3 | -8.5 |
| Information & Communication (J) | 19 | 39.1 |
| Professional, Scientific & Technical Activities (M) | 16.5 | 10.8 |
| Administrative & Support Service Activities (N) | 26.8 | -3.4 |
| Other Service Activities ( NACE 68,92-93,95-96) | 74.1 | -3.5 |
Learn about our data and confidentiality safeguards, and the steps we take to produce statistics that can be trusted by all.
Statistician's Comment
Commenting on the release, Stephanie Kelleher, Statistician in the Business Statistics Division, said: "Monthly Services increased by 0.7% in May 2022, while volume also increased by 1.5%.
Value Monthly Change
The value of services output in May 2022 increased by 0.7% when compared with April 2022 on a seasonally adjusted basis. In May, several sectors showed an increase in activity compared to the previous month. The largest monthly increases were recorded in Administrative & Support Service Activities (+8.1%), Professional, Scientific & Technical Activities (+6.0%), Transportation & Storage (+4.2%). Decreases were recorded in Other Service Activities (-5.9%) and Accommodation & Food Service Activities (-0.2%).
Value Annual Change
On an annual basis, the value of services was 23.6% higher in May 2022 compared with May 2021. All sectors showed an increase in activity compared to May 2021, a number of sectors showed large annual increases. The largest annual increases were in Accommodation & Food Service Activities (+247%), Other Service Activities (+74.2%) and Transportation & Storage (+53.5%). 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 Administrative & Support Service Activities (+26.8%), Information & Communication (+19.0%), Professional, Scientific & Technical Activities (+16.5%) and Wholesale & Retail Trade (+7.0%).
Volume Monthly Change
The volume of services output in May 2022 increased by 1.5% when compared with April 2022 on a seasonally adjusted basis. The sectors with the highest monthly volume increases were Administrative & Support Service Activities (+5.7%), Professional, Scientific & Technical Activities (+3.9%) and Transportation & Storage (+3.7%). Other Service Activities (-7.3%), Information & Communication (-3.3%), Wholesale & Retail Trade (-2.6%) and Accommodation & Food Service Activities (-0.8%) were the sectors to show a decrease in the volume of activity in the month.
Volume Annual Change
On an annual basis, services were 19.2% higher in volume terms in May 2022 compared with May 2021. All sectors showed an increase in volume. The largest annual increases was in Accommodation & Food Service Activities (+221%), Other Service Activities (+64.5%) and Transportation & Storage (+34.7%). However caution should be excerised when interpreting these increases, as the comparison is with a very low base from a year previous.
Change of Services in May 2022 compared with pre-COVID-19
The value of services in May 2022 was 19.5% higher than February 2020 (27 months earlier and pre-COVID-19). The sectors to show an increase since February 2020 are Information & Communication (+39.1%), Wholesale & Retail Trade (+12.0%) and Professional, Scientific & Technical Activities (+10.8%). The sectors to record a decrease in activity were Accommodation & Food Service Activities (-8.5%), Other Service Activities (-3.5%) and Administrative & Support Service Activities (-3.4%).
The volume of services in May 2022 was 20.0% higher than February 2020 (27 months earlier and pre-COVID-19) with a number of sectors showing an increase from February 2020 levels. These included Information & Communication (+38.4%), Professional, Scientific & Technical Activities (+8.1%) and Wholesale & Retail Trade (+4.8%). Accommodation & Food Service Activities (-13.7%), Other Service Activities (-11.5%), Administrative & Support Service Activities (-10.7%) and Transportation & Storage (-8.5%) were the sectors showing a decrease in activity since February 2020."