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News : Irish Economy Last Updated: Sep 5, 2013 - 4:53 PM


Irish Economy 2013: CSO says services fell in July contradicting PMI survey
By Finfacts Team
Sep 5, 2013 - 3:23 PM

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Irish Economy 2013: The CSO said today that the seasonally adjusted monthly services value index decreased by 0.8% in July 2013 when compared with June 2013 and there was an annual increase of 3.5%. We reported a month ago that the monthly Irish services activity PMI (purchasing managers index) survey in July was at its highest since 2007. We noted then: "The only caveats you will find are likely from Finfacts a) the biggest companies in this survey are US ones such as Microsoft and Google and significant chunks of their Irish booked revenues are tax-related diversions of revenues from other markets unrelated to activity in Ireland..."

The CSO said that on a monthly basis, Wholesale and Retail Trade (+2.4%) and Transportation and Storage (+1.8%) showed increases when compared with June 2013. Professional, Scientific and Technical Activities (-4.6%), Information and Communication (-4.0%), Administrative and Support Service Activities (-1.6%), Accommodation and Food Service Activities (-0.8%) and Other Service Activities (-0.4%) decreased when compared with the preceding month.

On an annual basis, Administrative and Support Service Activities (+17.7%), Information and Communication (+9.6%), Transportation and Storage (+2.4%), Accommodation and Food Service Activities (+1.8%) and Other Service Activities (+0.6%) increased when compared with July 2012. Professional, Scientific and Technical Activities decreased by 6.2% in the year, while there was no change to Wholesale and Retail Trade when compared with July 2012.

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