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Monthly Services Index May 2022 (Provisional) April 2022 (Final)

Monthly Services increased by 0.7% in May, while volume increased by 1.5%

Online ISSN: 2009-5074
CSO statistical publication, , 11am

Key Findings

  • 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).

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."

Graphs and Tables

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 2020101.8 90.4
May 2021122.5 112.0
April 2022150.3 141.0
May 2022151.4 136.6
% change   
Monthly0.7% 1.5%
Annual 23.6% 19.2%
February 2020 - May 202219.5% 20.0%
Figure 1: Monthly Services Index, January 2020 - May 2022
Figure 2: Monthly percentage change, May 2022
Business SectorsMonth on MonthYear on Year
Professional, Scientific & Technical Activities (M)0.543021.67735
Administrative & Support Service Activities (N)0.291561.0146
Accommodation & Food Service Activities (I)-0.007683.73433
Information & Communication (J)0.23689.61051
Other Service Activities (NACE 68,92-92,95-96)-0.250082.1023
Transportation & Storage (H)0.350563.74651
Wholesale & Retail Trade; Repair of Motor Vehicles
& Motorcycles (G)
-0.436471.69613

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 SectorsMay 2021 - May 2022February 2020 - May 2022
All Services23.619.5
Wholesale & Retail Trade; Repair of Motor Vehicles
& Motorcycles (G)
6.912
Transportation & Storage (H)53.60.9
Accommodation & Food Service Activities (I)246.3-8.5
Information & Communication (J)1939.1
Professional, Scientific & Technical Activities (M)16.510.8
Administrative & Support Service Activities (N)26.8-3.4
Other Service Activities ( NACE 68,92-93,95-96)74.1-3.5
Show Table: Table 1 Seasonally Adjusted Value and Volume Indices for the Non-Financial Traded sector

Show Table: Table 2 Seasonally Adjusted Value and Volume Indices for Wholesale and Retail Trade: Repair of Motor Vehicles and Motorcycles

Show Table: Table 3 Seasonally Adjusted Value and Volume Indices for Accommodation and Food Service Activities

Show Table: Table 4 Seasonally Adjusted Value and Volume Indices for Professional, Scientific and Technical Activities

Show Table: Table 5 Seasonally Adjusted Value and Volume Indices for Administrative and Support Service Activities

Show Table: Table 6 Seasonally Adjusted Value and Volume Indices for Transport and Storage

Show Table: Table 7 Seasonally Adjusted Value and Volume Indices for Information and Communication

Show Table: Table 8 Seasonally Adjusted Value and Volume Indices for Other Service Activities

Show Table: Table 9 Seasonally Adjusted Value and Volume percentage changes per sector February 2020 - May 2022

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