Index Of Services, UK - May 2024

11th July 2024

We estimate that monthly services output increased by 0.3% in May 2024, following an increase of 0.3% in April 2024 (upwardly revised 0.1 percentage points).

The Index of Services (IoS) saw monthly increases in 8 of the 14 sectors in May 2024 with the largest contribution to monthly growth coming from "wholesale and retail trade, repair of motor vehicles and motorcycles" (1.8%); the next largest increases were "professional, scientific and technical activities" (1.0%); and "accommodation and food services activities" (2.4%).

This monthly rise in May 2024 was partially offset by a fall in "information and communication" (negative 1.4%).

Services output is estimated to have grown by 1.1% in the three months to May 2024, when compared with the three months to February 2024; this is the strongest three-month on three-month IoS growth since December 2021 (1.6%).

The IoS saw increases in 10 of the 14 sectors in the three months to May 2024, when compared with the three months to February 2024.

The main positive contributing sectors in the three months to May 2024 were "professional, scientific and technical activities" (2.5%), and "administrative and support services activities" (3.2%).

Read the full ONS report HERE