UK Index of Services up 0.5% in March, main positive contributors were human health and social activities and administrative support service activities; output growth in quarter to March estimated to have grown by 0.7% compared to quarter to December: ONS

May 10, 2024 (press release) –

Movements in the volume of output for the UK services industries. Figures are seasonally adjusted.

Main points

• We estimate that monthly services output increased by 0.5% in March 2024, following a revised increase of 0.3% (up 0.2 percentage points) in February 2024 and a revised increase of 0.4% (up 0.1 percentage points) in January 2024.
• The Index of Services (IoS) saw monthly increases in 10 of the 14 sectors in March 2024, with the majority of monthly growth coming from the five largest contributing sectors: "human health and social activities" (1.1%), "administrative and support service activities" (1.6%), "wholesale and retail trade" (0.9%), "accommodation and food service activities" (2.7%), and "professional, scientific and technical activities" (0.9%).
• This monthly rise in March 2024 was mainly offset by a fall in "arts, entertainment and recreation" (down 3.1%) and, to a lesser extent, "information and communication" (down 0.2%).
• Services output for Quarter 1 (Jan to Mar) 2024 is estimated to have grown by 0.7% when compared with Quarter 4 (Oct to Dec) 2023; this is the first positive quarterly services growth since Quarter 1 2023 (0.2%).
• The Index of Services (IoS) saw increases in 11 of the 14 sectors in Quarter 1 2024, with the main positive contributing sectors being "transportation and storage" (3.7%) and "professional, scientific and technical activities" (1.3%).

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