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Value of certain services 16.6% up on pre-virus peak

The value of services decreased by 6.9% in April, when compared to March, new CSO data shows.

Accommodation and food service activities (+12.7%) and other service activities (+6%) recorded the largest monthly value increases.

The value of services output was 23.1% higher in April 2022 compared with April 2021.

The value of services in April 2022 was 16.6% higher than February 2020 (26 months earlier and pre-COVID-19).

The volume of services in April 2022 decreased by 3.1% when compared to March 2022.

The sectors with the highest monthly volume increases were other service activities (+5.3%) and transport and storage (+5.3%).

Services were 22% higher in volume terms in April 2022 compared with April 2021.

The volume of services in April 2022 was 17.8% higher than February 2020 (26 months earlier and pre-COVID-19).

Decreases

Statistician Stephanie Kelleher said: "Monthly services decreased by 6.9% in April, while volume also decreased by 3.1%.” 

Decreases were recorded in information and communication (-14.2%), professional, scientific and technical activities (-6.6%) and administrative and support service activities (-2.8%).

On an annual basis, the value of services was 23.1% higher in April 2022 compared with April 2021. 

All sectors showed an increase in activity compared to April 2021, a number of sectors showed large annual increases.

The largest annual increases were in accommodation and food service activities (+218%), other service activities (+103%) and transportation and storage (+41.3%).

Comparison is with a very low base from a year ago when Level Five restrictions were in force, the CSO has said.

Volume

The volume of services output in April 2022 decreased by 3.1% when compared with March 2022 on a seasonally adjusted basis.

On an annual basis, services were 22.0% higher in volume terms in April 2022 compared with April 2021. All sectors showed an increase in volume. 

The volume of services in April 2022 was 17.8% higher than February 2020 (26 months earlier and pre-COVID-19) with a number of sectors showing an increase from February 2020 levels. 

These included:

• Information and communication (+43.4%),
• Wholesale and retail trade (+7.3%),
• Professional, scientific and technical activities (+4.1%).

Showing a decrease since February 2020 were:

• Accommodation and food service activities (-20.8%),
• Administrative and support service activities (-16.1%),
• Transportation and storage (-12.3%),
• Other service activities (-5.4%).

The value of services in April 2022 was 16.6% higher than February 2020 (26 months earlier and pre-COVID-19). 

The sectors to show an increase since February 2020 are:

• Information and communication (+35.7%),
• Wholesale and retail trade (+13.5%),
• Professional scientific and technical activities (+2.4%)
• Other service activities (+0.9%).

The sectors to record a decrease in activity were:

• Administrative and support service activities (-11.4%),
• Accommodation and food service activities (-7.9%),
• Transportation and storage (-5.7%).