Latest Results (Quarter 4 2018) - Published 21st March 2019
- Services output in NI, in real terms, increased in Quarter 4 (October – December) 2018 by 0.9% and increased over the year, from Quarter 4 2017 to Quarter 4 2018, by 2.8%. NI output is now at the highest point over the past ten years, but is 2.3% lower than the highest point (Quarter 4 2006) since the series began. Services output in NI has recovered 11.7% since the lowest point (Quarter 2 2013) since the series began.
- The UK IOS reported growth in output over both the quarter and year, by 0.4% and 1.9% respectively.
- When the most recent four quarters are compared to the previous four quarters, both the NI and UK services sectors showed annualised growth, of 2.2% and 1.7% respectively.
- The quarterly increase in NI services output has been driven solely by an increase in the Wholesale and retail trade; repair of motor vehicles and motorcycles; accommodation and food service (1.0%) sector. This increase was partially offset by decreases in the Business services and finance (0.3%); Transport, storage, information and communications (0.7%); and Other services (0.3%) sectors.
- The annual increase in NI services output has been driven by increases in the Wholesale and retail trade; repair of motor vehicles and motorcycles; accommodation and food service (3.8%); Transport, storage, information and communications (4.7%); and Business services and finance (1.1%) sectors.
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