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Release: Index of Services, March 2013

Released: 23 May 2013 Next edition: 28 June 2013

Contact

Robert Doody

Business Indicators and Balance of Payments

Ios.enquiries@ons.gsi.gov.uk

Telephone: +44 (0)1633 455803

Categories: Economy, National Accounts, National Income, Expenditure and Output

Frequency of release: Monthly

Language: English

Geographical coverage: UK

Geographical breakdown: UK

  • Users are reminded that the figures within this release are estimates and are on a seasonally adjusted basis.
  • The Index of Services increased by 1.6% in March 2013 compared with March 2012. All of the components of the services industry increased in the most recent month compared with the same month a year ago.
  • The largest contributions came from business services & finance, which contributed 0.9 percentage points (pp) of growth to the index and government & other services, which contributed 0.4 pp to total growth.
  • The Index of Services increased by 0.6% in Q1 2013 compared with Q4 2012. This figure is unrevised from its first publication in the Preliminary Estimate of GDP on 25 April 2013.
  • These estimates for the services industries mean that, subject to revision, all the main components for the output approach to the measurement of GDP (construction, production and services) have been published for January, February and March 2013, completing the picture for Q1 2013. The March estimates for production and construction output were published on 9 May 2013 and 10 May 2013 respectively. The Second Estimate of Gross Domestic Product for Q1 2013 is published on 23 May 2013 alongside this statistical bulletin. For more information see Table 2 GDP components tables.
  • March 2013 was the coldest since 1962 and saw heavy snowfall affect many areas of the UK. However, there was little evidence of the bad weather having a significant effect on the services industries.
  • The earliest period open for revision in this release is January 2013.
Shows the monthly movements in gross value added for the service industries, which overall account for around 77% of UK Gross Domestic Product (GDP).
Content from the Office for National Statistics.
© Crown Copyright applies unless otherwise stated.