UK services sector grows 0.8% in Q2 ’24

UK services output increased by 0.8 per cent in the second quarter of 2024 (April to June), compared to the first quarter (January to March). The Index of Services (IoS) recorded growth in 11 out of 14 sectors.

Significant contributors to this rise were professional, scientific and technical activities, which grew by 2.5 per cent, and information and communication, which saw a 1.7 per cent increase.

These two sectors combined accounted for approximately half of the overall quarterly growth.

Despite this positive quarterly performance, monthly services output decreased by 0.1 per cent in June 2024. This marked the first monthly decline since December 2023, following increases of 0.2 per cent in April and 0.3 per cent in May.

In June, the IoS experienced monthly decreases in 7 of the 14 sectors, with the largest declines occurring in wholesale and retail trade, repair of motor vehicles and motorcycles down by 1.0 per cent and human health and social work activities down by 0.9 per cent.

The decline was partially offset by a 1.0 per cent increase in professional, scientific and technical activities.

Attribution: The Office for National Statistics (ONS)

Subediting: M. S. Salama