Irish Economy: Official data today from the CSO
shows that the seasonally adjusted monthly services value index increased by 2.2% in April
2014 when compared with March 2014 and there was an annual increase of 4.1%.
On a monthly basis, Transportation and Storage (+13.4%), Other Service
Activities (+4.1%), Information and Communication (+3.3%) and Accommodation and
Food Service Activities (+1.9%) increased when compared with March
2014. Professional, Scientific and Technical Activities decreased by 3.3% in the
month to April 2014, while there was no change to the Wholesale and Retail Trade
and Administrative and Support Services sectors.
On an annual basis, Information and Communication (+13.2%), Accommodation and
Food Service Activities (+6.6%), Transportation and Storage (+5.8%), Wholesale
and Retail Trade (+3.2%) and Other Service Activities (+2.9%) increased when
compared with April 2013. Professional, Scientific and Technical Activities
(-10.4%), and Administrative and Support Service Activities (-3.4%) showed
decreases in the same period.
The sample size is approximately 2,100 enterprises.
The sample comprises a census of all enterprises with an annual turnover value
of more than €20m or enterprises with more than 100 persons engaged. The
remainder of the target population is stratified using 2-digit Statistical
Classification of Economic Activities in the European Community, i.e. NACE Rev.
2 classifications. Each of these 2-digit NACE sectors are further subdivided
into strata based on turnover. A simple random sample is then drawn from each
stratum. Retail and Motor Trade figures are taken from the separate Retail Sales
Index sample of approximately 1,400 enterprises.
The response rates for the provisional results are typically 49% in terms of the
enterprises surveyed which represents 70% of the value of total turnover. The
corresponding figures for the final results are 59% and 88% respectively. These
response rates are based on averages for the 6 month period ending March 2012.
In April, with a panel of 450 and no response rate
the Irish services PMI (purchasing managers' index) data increased sharply again
in April to the highest since February 2007 as new business rose at the
fastest pace since September 2006 amid a general strengthening of economic
The index has risen 12% since
2010 and this official data does not support the claims that are made in the PMI
The CSO introduced the monthly services index in