According to the Monthly Services Index May 2023 (Provisional) April 2023 (Final) report from the Central Statistics Office (CSO), the value of services in Irish accommodation & food services activities increased year on year in May 2023.
Annual Data
The report, which was published on CSO.ie, states that the value of services in accommodation & food services activities increased by 18.7% year on year in May of this year, and that the volume of services in accommodation & food service activities increased by 9.4% year on year in the fifth month of this year.
Monthly Data
The report also states that the value of services in accommodation & food services activities increased by 0.9% month on month in May 2023, and that the volume of services in accommodation & food service activities increased by 0.1% in May 2023 compared to April 2023.
Statements By Statistician
The report published on CSO.ie quoted business statistics division statistician Tommy Allen as saying, "The value of services decreased by 0.5% in May 2023 while the volume increased by 0.1% when compared with April 2023."
Allen continued, "The value of services output in May 2023 decreased by 0.5% when compared with April 2023 on a seasonally adjusted basis. The sectors that recorded monthly increases were professional, scientific & technical activities (+3.7%), accommodation & food service activities (+0.9%), other service activities (+0.9%), administrative & support service activities (+0.8%), information & communication (+0.7%), and transportation & storage (+0.4%). The only sector which recorded a decrease in activity was wholesale & retail trade (-5.8%)."
Allen was quoted as saying, "On an annual basis, the value of services was 4.9% higher in May 2023 compared with May 2022. Most sectors showed an increase in activity compared with May 2022, with significant growth recorded in some sectors. The largest annual increases were in other service activities (+26.8%) and accommodation & food service activities (+18.7%). Positive changes were also observed in Information & communication (+4.9%), wholesale & retail trade (+2.9%), and transportation & storage (+2.6%). Decreases were recorded in administrative & support service activities (-3.4%) and professional, scientific & technical activities (-0.4%)."
Allen was also quoted as saying, "The volume of services output in May 2023 rose by 0.1% when compared with April 2023 on a seasonally adjusted basis. The sectors with monthly volume increases were professional, scientific & technical activities (+1.3%), transportation & storage (+0.5%), other service activities (+0.4%), and accommodation & food service activities (+0.1%). The sectors that showed a volume decrease were wholesale & retail trade (-3.5%), information & communication (-2.5%), and administrative & support service activities (-1.0%)."
Allen was quoted as adding, "On an annual basis, services were 2.8% higher in volume terms in May 2023 when compared with May 2022. The largest annual growth was in other service activities (+19.4%), accommodation & food service activities (+9.4%), and information & communication (+4.0%). The sector with the greatest decrease was administrative & support service activities (-5.8%)."
Read More: Value Of Services In Irish Accommodation & Food Services Activities Increased YOY In April
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