Business Indicators and Balance of Payments
Telephone: +44 (0)1633 456771
Frequency of release: Monthly
Geographical coverage: UK
Geographical breakdown: UK
The seasonally adjusted Index of Services increased by 1.3 per cent in May 2012 compared with May 2011.
Three of the four service sector components increased in the most recent month compared with the same month a year ago.
Business services & finance rose by 1.7 per cent and government & other services rose by 1.5 per cent. These were the largest contributions to the increase.
Between April 2012 and May 2012, service sector output increased by 0.9 per cent.
The only period open for revision in this release is April 2012.
In 2012, the end of May bank holiday was moved to June resulting in an additional working day in May, which may have been a contributing factor to the relatively strong month on month and month on a year ago growths for May.
Index of Services shows the monthly movements in gross value added for the service industries, which overall account for around 77 per cent of UK Gross Domestic Product (GDP).