The Irish services sector continued to expand in April but the pace of growth and job creation slowed. The latest AIB Purchasing Managers Index (PMI) survey for services showed the tech sector was a key source of weakness last month while financial services powered ahead. The slow down in job creation was also a feature of the manufacturing sector data earlier in the week. The latest data means Irish services – which captures everything from banking to cafes – has been in continuous expansion for three years and two months, even with the country ‘officially’ in recession last year. With inflation easing across the economy, the latest data shows wages and fuel were the main reported sources of higher input costs in April.

Source: Irish Independent May 03, 2024 13:35 UTC