Statistics: Index of Services, January 2014

Part of Business Investment, Q4 2013 Revised Results Release

Released: 28 March 2014 – Download PDF

Contents

• Key information
• Economic background
• GDP Impact and Components
• Component analysis
• Background notes
• Statistical contacts

Key Points

• The Index of Services increased by 3.2% in January 2014 compared with January 2013. All of the four main components of the services industries increased in the most recent month compared with the same month a year ago.
• The largest contributions came from: business services & finance, which contributed 1.4 percentage points to total growth; and distribution, hotels & restaurants, which contributed 1.0 percentage points to total growth.
• The latest Index of Services estimates show that output increased by 0.4% between December 2013 and January 2014, following an increase of 0.3% between November 2013 and December 2013.
• The Index of Services increased by 0.8% in Q4 2013 compared with Q3 2013. This figure is unrevised from that included in the Second Estimate of Gross Domestic Product (GDP) and is consistent with the estimate used in the Quarterly National Accounts published on 28 March 2014.
• The figures within this release are estimates and are on a seasonally adjusted basis. The earliest period open for revision in this release is January 2012.

Source: Office for National Statistics licensed under the Open Government Licence v.1.0.