Growth in the country’s services sector eased slightly in February, with both total activity and new business expanding at the weakest rate for more than a year, a survey showed today.
The AIB Global S&P Purchasing Managers’ Index (PMI) fell to 53.2 from 53.4 in January.
The index has been above the 50 mark that separates growth from contraction since March 2021 but has slipped since recording a 19-month high of 58.3 in November.
Despite the subdued growth, employment rebounded, and outstanding business increased. Average input prices increased at the strongest rate since last May, driven mainly by wages.
All sub-sectors – technology, media and telecoms, financial services, transport, tourism and leisure, and business services – showed growth, with technology, media and telecoms leading the way.
Confidence in future business activity remained bright, although slightly below the long-run average, the survey’s authors added.
Article Source – Services growth eases slightly in February, PMI show – RTE
