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Europe Economy: 
Business Services Rise 0.8% in May
Author: 123jump.com Staff
123jump.com
Last Update: 2:30 PM EST July 20 2007



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Between April and May business services and finance increased by 0.8%. The most significant increase was in other business services which includes investigation and security, management consultancy and architectural services.

 
The following is an unedited transcript of the news release from the UK National Statistics.


In the three months to May the seasonally adjusted chained volume index for the output of the service industries increased by 0.9% compared with the previous three months.

All five components of the service sector increased in output. The most significant increase was in business services & finance. Between April and May service sector output increased by 0.6%. Four of the five components increased in output. The most significant increase was in business services and finance.

Distribution

In the three months to May, distribution rose by 1.2 per cent compared with the previous three months. All three components – motor trades, wholesaling and retail – increased in output. The most significant increase was in retail.

Transport, storage and communications

In the three months to May, output from transport, storage and communications rose by 1.7 per cent compared with the previous three months. Growth in the latest three months was broad based with all five components – land transport, water transport, air transport, other transport services and post and telecommunications – increasing in output. The most significant increases were in other transport services and telecommunications.

Business Services and Finance

In the three months to May, the output of business services and finance rose by 1.0 per cent compared with the previous three months. The increase was driven by other business services; the most significant increases here were in legal services, labour recruitment and architectural services. Between April and May business services and finance increased by 0.8 per cent. The most significant increase was in other business services which includes investigation and security, management consultancy and architectural services.

Government and other services

In the three months to May, output from government and other services rose by 0.4 per cent compared with the previous three months. The most significant contributors to this increase were health and social work and sewage and refuse disposal.


Available at:

http://www.statistics.gov.uk/pdfdir/ios0707.pdf
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