We use cookies to collect and analyse information on site performance and usage to improve and customise your experience, where applicable. View our Cookies Policy. Click Accept and continue to use our website or Manage to review and update your preferences.


Value of professional services returns to pre-virus levels

04 Feb 2021 / business Print

Value of professional services at pre-virus levels

The value of monthly services’ output increased by 8.6% in December when compared with November on a seasonally adjusted basis, new CSO figures show.

And two sectors have returned to pre-crisis levels – professional, scientific and technical activities (+25.1%); and information and communication (+2.9%).

The largest declines in activity recorded since February 2019 were in accommodation and food-service activities (-49.5%), other service activities (-25.9%), transportation and storage (-23.3%), administrative and support-service activities (-11.4%) and wholesale and retail trade (-0.4%). 

December growth

December is the first month that has shown growth since September 2020, following a decline of 4.6% in October, and 2.9% in November.

On an annual basis, services were 0.3% lower in December 2020 compared with December 2019. Overall, the value of services’ output fell by 7.7% in 2020 when compared with 2019.

All sectors showed an increase in output in the month of December, the statistics show.

The largest monthly increase was in accommodation-and-food service activities (+93.1%), albeit from a very low base in November when many establishments were closed.

There were also increases in:

  • Other service activities (+29.6%),
  • Professional, scientific and technical activities (+23.0%),
  • Wholesale and retail trade (+5.5%),
  • Administrative and support service activities (+5.4%),
  • Information and communication (+4.0%), and
  • Transportation and storage (+1.0%).

Accommodation and food hit

Compared with December 2019, activity is still down by almost half in accommodation and food service activities (-49.9%).

The figures for other sectors are, as follows:

  • Other service activities (-27.7%),
  • Transportation and storage (-21.5%),
  • Administrative and support-service activities (-16.7%), and
  • Wholesale and retail trade (-0.9%).

The only sectors to show an increase since December 2019 were professional, scientific and technical activities (+36.1%); and information and communication (+9.7%).

Services in December were 3.3% lower than in February 2020, before the current COVID-19 wave began.

 

Gazette Desk
Gazette.ie is the daily legal news site of the Law Society of Ireland