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Services output up by one fifth on July 2021

In July, the value of services increased by 0.5% when compared with June 2022, according to CSO data.

Transportation and storage (+4.2%) and accommodation and food service activities (+1.9%) recorded the largest monthly value increases. 

The value of services output was 21.4% higher in July 2022 compared with July 2021.

When compared with February 2020 (29 months earlier and pre-COVID-19), the value of services was 24.1% higher in July 2022.

The volume of services in July 2022 increased by 0.9% when compared with June 2022 while the sectors with the highest monthly volume increase in July 2022 were information and communication (+1.3%) and other service activities (+1.0%).

However, decreases were recorded in administrative and support service activities (-7.4%), and professional, scientific and technical activities (-4.9%).

Higher volume

Services were 17.2% higher in volume terms in July 2022 compared with July 2021.

The volume of services in July 2022 was 21.2% higher than February 2020 (29 months earlier and pre-COVID-19).

Statistician Stephanie Kelleher said that on an annual basis, the value of services was 21.4% higher in July 2022 compared with July 2021.

All sectors showed an increase in activity compared with June 2021, with a number of sectors showing large annual increases.

However, the comparison is with a very low base from a year ago.

While information and communication activities were up 24.1%, and wholesale and retail trade was up 9.9%, professional, scientific and technical activities were up just 0.3%.

Output

The volume of services output in July 2022 increased by 0.9% when compared with June 2022 on a seasonally-adjusted basis.

Sectors showing monthly volume decreases in activity included administrative and support services (-7.9%), professional, scientific and technical activities (-3.7%) and wholesale and retail trade (-2.0%).