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The IT sector, which drives services, is recovering, while hospitality and transport have yet to catch up

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The IT sector is driving a surge in Ireland’s service output, which is now more than 20 per cent above pre-pandemic levels.

However, accommodation, food, transport and storage services are still at the level they were before the Covid outbreak in March 2020.

Central Statics Office (CSO) figures show the value of services rose 22.7 percent in June from February 2020, the month before the pandemic restrictions were put in place.

The volume of services increased by 21.4 percent in the same month.

Information and communication services in June were up 45.9 percent in value and 48.3 percent in volume from pre-pandemic levels.

Wholesale and retail services rose 13.3 percent from pre-pandemic levels, while professional and scientific services grew 12.8 percent.

But accommodation and food (-4.8 percent in value, -11.6 percent in volume) and transport and warehousing services (-2.2 percent in value, -11.1 percent in volume) are still below the level of the previous year February 2020.

“Other” services — which include real estate, gaming, sports and leisure, merchandise repair and personal services — declined 11.9 percent in volume from pre-pandemic levels, while administrative and support services fell 10.8 percent.

The value of services rendered increased by 2 percent in June compared to May and was up 21.5 percent year-on-year.

The volume of service production increased by 1.5 percent in May and was 17.3 percent higher than in June 2021.

The year-on-year upswing in value was driven by massive increases in accommodation and food (+95.2 percent), transport and storage (+48.9 percent), “other” services (+32.2 percent) and administrative and support services (+ 21.9 percent) driven PC).

A similar pattern emerged for volume.

However, CSO statistician Stephanie Kelleher urged “caution” in interpreting annual increases, as “the comparison is against a very low base from a year ago.”

Many restrictions were still in effect in June 2021 following the spread of the delta variant of the coronavirus.

https://www.independent.ie/business/irish/it-sector-powering-services-rebound-with-hospitality-and-transport-yet-to-catch-up-41915433.html The IT sector, which drives services, is recovering, while hospitality and transport have yet to catch up

Fry Electronics Team

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