Index of Services, March 2015

28 May 2015 11:53 AM

Main points

• The Index of Services is estimated to have increased by 2.8% in March 2015 compared with March 2014. All of the 4 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 and finance, which contributed 1.2 percentage points to total growth; and distribution, hotels and restaurants, which contributed 0.7 percentage points to total growth.
• The latest Index of Services estimates show that output increased by 0.1% between February 2015 and March 2015, following an increase of 0.3% between January 2015 and February 2015.
• The Index of Services increased by 0.4% in Quarter 1 (Jan to Mar) 2015 compared with Quarter 4 (Oct to Dec) 2014. This figure was revised down 0.1 percentage points from the estimate of 0.5% used in the Gross Domestic Product Preliminary Estimate (GDP), published on 28 April 2015. This figure is consistent with the Second Estimate of GDP, published on 28 May 2015.
• 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 2015.

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