DUBLIN (Reuters) – Ireland’s services sector continued to grow in October, though at a slower pace than September’s six-month high, a survey showed on Tuesday.
The AIB Global S&P Purchasing Managers’ Index (PMI) stood at 53.8 in October, down from 55.7 in September. The index has been above the 50 mark that separates growth from contraction since March 2021.
AIB’s Chief Economist David McNamara said the growth was driven by increased new work and strong export sales, particularly in the Technology, Media & Telecoms category.
However, the average price charged by service sector firms increased month-on-month as rising input costs such as fuel and salaries were passed on to customers.
Business sentiment also eased compared with September but remained positive, with respondents saying the impact of global geopolitical uncertainty could be offset by new product launches and improving economic conditions.
(Reporting by Graham Fahy; Editing by Hugh Lawson)
