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UK index of services improves
This release shows that services output increased by 0.4% between June 2016 and July 2016. Users should note that ONS always warns against focusing on the month-on-month growth rates.
The Index of Services was estimated to have increased by 2.9% in July 2016 compared with July 2015. 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 0.4% growth in services between June 2016 and July 2016 follows growth of 0.3% between May 2016 and June 2016, which is revised up 0.1 percentage points from the previous estimate.
The Index of Services increased by 0.6% in Quarter 2 (Apr to June) 2016 compared with Quarter 1 (Jan to Mar) 2016. This figure has been revised up by 0.1 percentage points from that included in the Gross Domestic Product (GDP) Second Estimate, published on 26 August 2016. This figure is consistent with the Quarterly National Accounts, published on 30 September 2016.
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