Value of services sector falls in February

The seasonally adjusted monthly services value index fell by 1.1 per cent in February 2013, new data from the Central Statistics Office showed today.

The figures showed a fall off in both the monthly and yearly figures, with a 1 per cent decline on an annual basis.

The value index measured 105.3 for February, down from 106.4 in January.

Among the monthly increases were administrative and support service activities, which recorded a 3 per cent rise in value. The professional, scientific and technical sector rose by 1.7 per cent, with the index for transportation and storage increasing by 0.7 per cent in value compared with January.

This was offset by a fall of 3.3 per cent in the value of the other services sector. Accommodation and food services saw a decline of 2.9 per cent in value, with information and communication falling by 1.9 per cent and the wholesale and retail trade down 1.6 per cent month on month.

On an annual basis, the support services index rose by almost 16 per cent, while transportation and storage rose by 5.6 per cent. There was a 2 per cent rise in the professional and scientific sector. But the more general "other services" sector fell 13.2 per cent year on year, and the wholesale and retail trade followed monthly trends to fall 5.9 per cent year on year.