According to the Monthly Services Index January 2023 (Provisional) December 2022 (Final) report from the Central Statistics Office (CSO), the value of services in accommodation and food services activities increased year on year in January of 2023.
Annual Data
The report, which was published on CSO.ie, states that the value of services in accommodation and food services activities increased by 56.6% year on year in January of this year, and that the volume of services in accommodation and food service activities increased by 44.1% year on year in the first month of this year.
Monthly Data
The report also states that the value of services in accommodation and food services activities decreased by 1.9% month on month in January of 2023, and that the volume of services in accommodation and food service activities decreased by 0.6% in January of 2023 compared to December of 2022.
Pre-Pandemic Comparison
Additionally, the report states that the value of services in accommodation and food services activities was 2.9% higher in January of 2023 than the value recorded for pre-COVID-19 pandemic February 2020.
Statements By Statistician
The report published on CSO.ie quoted business statistics division statistician Tommy Allen as saying, "The value of services increased by 3.2% in January 2023, while the volume increased by 4.5% when compared with December 2022."
Allen continued, "The value of services output in January 2023 increased by 3.2% when compared with December 2022 on a seasonally adjusted basis. The sectors that recorded monthly increases were wholesale & retail trade (+7.5%), other service activities (+6.4%), transportation & storage (+4.1%), professional, scientific & technical activities (+2.9%), accommodation & food service activities (+1.9%), and information & communication (+1.6%). The only sector to record a decrease in activity was administrative & support service activities (-1.4%)."
Allen was quoted as saying, "On an annual basis, the value of services was 18.9% higher in January 2023 compared with January 2022. Activity increased across all sectors compared with January 2022, with significant growth recorded in some sectors. The largest annual increase was in accommodation & food service activities (+56.6%). Caution should be exercised when interpreting this large increase, as the comparison is with a low base from a year ago. The remaining increases were in other service activities (+44.0%), information & communication (+21.4%), transportation & storage (+17.1%), wholesale & retail trade (+13.9%), administrative & support service activities (+4.9%), and professional, scientific & technical activities (+2.5%)."
Allen was also quoted as saying, "The volume of services output in January 2023 rose by 4.5% when compared with December 2022 on a seasonally adjusted basis. The sectors with monthly volume increases were wholesale & retail trade (+6.0%), other service activities (+4.7%), transportation & storage (+4.2%), professional, scientific & technical activities (+3.6%), and accommodation & food service activities (+0.6%). The two sectors that showed a volume decrease were administrative & support service activities (-3.0%) and information & communication (-1.1%)."
Allen added, "On an annual basis, services were 15.1% higher in volume terms in January 2023 compared with January 2022. Most sectors showed an increase in volume. The largest annual growth was in accommodation & food service activities (+44.1%), other service activities (+35.2%), and information & communication (+19.7%). However, caution should be exercised when interpreting the largest of these increases, as the comparison is with a low base from the previous year. Administrative & support service activities (-0.3%) was the only sector to decline over the period."
Read More: Value Of Services In Accommodation & Food Services Activities Increased Year On Year In December
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