Irish services sector growth slows in Oct outlook brighter -PMI
DUBLIN, Nov 3 (Reuters) – Irish services growth slowed again in October, hurt by lagging tourism and leisure activity, but firms across the sector were more optimistic than a month earlier amid a marked rebound for exporters, a survey showed on Thursday.The AIB S&P Global Purchasing Managers’ Index (PMI) for the sector slipped to 53.2 last month from 54.1 in September, remaining above the 50 mark separating growth from contraction and much stronger than the levels seen in all major trading partners.While the reading marked a 20-month low and a sharp decline from 63.4 in March, before Russia’s invasion of Ukraine slowed a period of rapid expansion, the survey’s authors said the main components of the survey were quite encouraging.The outlook for business activity rebounded from September’s near two-year low to the highest level since July, while new export business jumped to 57.2 from 52.1, reflecting stronger growth in financial services , technology and telecoms.The rate of input price inflation eased to a nine-month low, although it remained among the highest on record, with prices charged by Irish service providers also easing a touch at historically high levels.
Ireland’s finance ministry expects modified domestic demand, its preferred economic growth measure, to grow by 7.7% this year and 1.2% next year .
The AIB S&P Global Purchasing Managers’ Index (PMI) for the sector slipped to 53.2 last month from 54.1 in September, remaining above the 50 mark separating growth from contraction and much stronger than the levels seen in all major trading partners.
The outlook for business activity rebounded from September’s near two-year low to the highest level since July, while new export business jumped to 57.2 from 52.1, reflecting stronger growth in financial services, technology and telecoms.
Ireland’s finance ministry expects modified domestic demand, its preferred economic growth measure, to grow by 7.7% this year and 1.2% next year.
