Index of Services, UK: August 2020

Movements in the volume of output for the UK services industries. Figures are seasonally adjusted.

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Cyswllt:
Email Mark Stephens

Dyddiad y datganiad:
9 October 2020

Cyhoeddiad nesaf:
12 November 2020

1. Main points

  • In August 2020, the Index of Services was 9.6% below February 2020, the previous month of "normal" trading conditions, prior to the coronavirus (COVID-19) pandemic.

  • There were four industries that failed to reach 50% of their pre-February 2020 level; these were travel agencies, air transport, rail transport, and creative, arts and entertainment.

  • There was a rise of 2.4% in the Index of Services between July 2020 and August 2020; the largest contribution to monthly growth is accommodation and food service activities, rising by 71.4%.

  • Monthly growth was subdued, with accommodation and food and beverage services, boosted by the impact of the Eat Out to Help Out scheme, contributing 1.6 percentage points of the 2.4% services growth.

  • Total services output increased by 7.1% for the three months to August 2020, compared with the months to May 2020; this was primarily because of the very low output in April 2020 and subsequent periods of strength since then.

  • Services output between the three months to August 2019 and the three months to August 2020 decreased by 12.5%.

  • The coronavirus pandemic had a significant negative impact on output of the services industries during August 2020; for further and detailed analysis of the effect on our monthly Index of Services estimate, please see our article Coronavirus and the impact on output in the UK economy, UK: August 2020, published today (9 October 2020).

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2. Index of Services data

Index of Services time series
Dataset | Dataset ID: IOS1 | Released 9 October 2020
Monthly movements in output for the services industries: distribution, hotels and restaurants; transport, storage and communication; business services and finance; and government and other services.

Monthly Business Survey turnover of services industries
Dataset | Released 9 October 2020
Monthly Business Survey services industries' total turnover; current price and non-seasonally adjusted, UK.

Index of Services, main components and sectors to four decimal places
Dataset | Released 9 October 2020
Monthly historical movements in output for services and their industry components, by chained volume indices of gross value added, UK.

Index of Services revisions triangles
Dataset | Released 9 October 2020
Monthly chained volume indices in gross value added for services and its main components.

All data related to the Index of Services are available on the Related data page.

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3. Measuring the data

Data sources and collection

The Index of Services (IoS) is compiled using data from several different sources:

  • ONS: Monthly Business Survey (44.4%)

  • ONS: Retail Sales Inquiry (6.4%)

  • ONS: Government Expenditure (20.1%)

  • ONS: Households' Expenditure (15.3%)

  • ONS: Finance Expenditure (7.8%)

  • Other (5.9%)

The Monthly Business Survey (MBS) data are published alongside this release in MBS turnover in services industries.

Data relating to the retail industry are broadly comparable with Retail sales, Great Britain: August 2020, published on 18 September 2020.

For further information on what is included within Other, please see the GDP(o) data sources catalogue.

Percentage of each data source is based on their gross value added weight. The GDP(o) methods and sources pages provide more information on the data that underpin these statistics; of particular note is the GDP(o) data sources catalogue.

From February 2018, Value Added Tax (VAT) data have also been included across 64 production industries for small- and medium-sized businesses. For more information, see VAT turnover data in national accounts: background and methodology.

Quality and methodology

More quality and methodology information on strengths, limitations, appropriate uses, and how the data were created is available in the Index of Services QMI.

Leaving the EU

As the UK leaves the EU, it is important that our statistics continue to be of high quality and are internationally comparable. During the transition period, those UK statistics that align with EU practice and rules will continue to do so in the same way as before 31 January 2020.

After the transition period, we will continue to produce our national accounts statistics in line with the UK Statistics Authority's Code of Practice for Statistics and in accordance with internationally agreed statistical guidance and standards.

The Withdrawal Agreement outlines a need for UK gross national income (a fundamental component of the national accounts, which includes gross domestic product (GDP)) statistics to remain in line with those of other EU countries until the EU budgets are finalised for the years in which we were a member. To ensure comparability during this cycle, the national accounts will continue to be produced according to European System of Accounts (ESA) 2010 definitions and standards.

Coronavirus

We are aware of the upcoming challenges relating to the pandemic. However, the Monthly Business Survey is fully online, meaning that business owners can log on from any location and submit their data at an appropriate time. Most other data in the Index of Services comes from within the Office for National Statistics (ONS) and therefore will be less impacted than survey data.

Our latest data and analysis on the impact of the coronavirus (COVID-19) on the UK economy and population is now available on anew webpage. This will be the hub for all special virus-related publications, drawing on all available data.

The ONS has released a public statement on the coronavirus and the production of statistics. Specific queries must be directed to the Media Relations Office.

Blue Book 2020

Each year we produce an annual update to the UK National Accounts in the Blue Book and Pink Book and the associated releases. As already announced, the Blue Book and Pink Book 2020 consistent datasets were published on 30 September 2020 as part of the Quarterly national accounts.

Details have already been provided on the scope in the article Latest developments and changes to be implemented in Blue Book and Pink Book 2020. Indicative impacts on headline gross domestic product (GDP) components for the years 1997 to 2018 were published on 20 July 2020 in the article Impact of Blue Book 2020 changes on current price and volume estimates of gross domestic product.

This publication incorporates revisions consistent with Blue Book 2020, where the reference year and last base year for all chained volume measure series will be updated to 2018.

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Manylion cyswllt ar gyfer y Bwletin ystadegol

Mark Stephens
ios.enquiries@ons.gov.uk
Ffôn: +44 (0)1633 456387