According to the Monthly Services Index April 2023 (Provisional) March 2023 (Final) report from the Central Statistics Office (CSO), the value of services in Irish accommodation & food services activities increased year on year in April 2023.
Annual Data
The report, which was published on CSO.ie, states that the value of services in accommodation & food services activities increased by 19.2% year on year in April of this year, and that the volume of services in accommodation & food service activities increased by 10.5% year on year in the fourth month of this year.
Monthly Data
The report also states that the value of services in accommodation & food services activities increased by 1.7% month on month in April 2023, and that the volume of services in accommodation & food service activities decreased by 3.2% in April 2023 compared to March 2023.
Statements By Statistician
The report published on CSO.ie quoted business statistics division statistician Tommy Allen as saying, "The value of services increased by 1.6% in April 2023 while the volume decreased by 1.3% when compared with March 2023."
Allen continued, "The value of services output in April 2023 increased by 1.6% when compared with March 2023 on a seasonally adjusted basis. The sectors that recorded monthly increases were wholesale & retail trade (+6.1%), transportation & storage (+5.0%), accommodation & food service activities (+1.7%), and information & communication (+0.1%). The sectors which recorded a decrease in activity were administrative & support service activities (-1.8%), professional, scientific & technical activities (-0.9%), and other service activities (-0.8%)."
Allen was quoted as saying, "On an annual basis, the value of services was 9.9% higher in April 2023 compared with April 2022. All sectors showed an increase in activity compared with April 2022, with significant growth recorded in some sectors. The largest annual increases were in accommodation & food service activities (+19.2%), and other service activities (+18.8%). Caution should be exercised when interpreting these large increases, as the comparison is with a low base from a year ago. Positive changes were also observed in wholesale & retail trade (+10.9%), information & communication (+10.6%), transportation & storage (+7.7%), administrative & support service activities (+3.1%), and professional, scientific & technical activities (+0.6%)."
Allen was also quoted as saying, "The volume of services output in April 2023 fell by 1.3% when compared with March 2023 on a seasonally adjusted basis. The sectors with monthly volume increases were professional, scientific & technical activities (+5.1%), wholesale & retail trade (+5.0%), transportation & storage (+4.8%), accommodation & food service activities (+3.2%), and information & communication (+2.8%). The two sectors that showed a volume decrease were administrative & support service activities (-2.9%) and other service activities (-1.0%)."
Allen was quoted as adding, "On an annual basis, services were 4.3% higher in volume terms in April 2023 when compared with April 2022. All sectors showed an increase in volume. The largest annual growth was in other service activities (+11.3%), accommodation & food service activities (+10.5%), and information & communication (+8.9%). However, caution should be exercised when interpreting these large increases, as the comparison is with a low base from the previous year."
Read More: Value Of Services In Accommodation & Food Services Activities Increased Year On Year In March
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