Activity in the services sector last month increased at the fastest rate since March 2016, driven by pent-up demand as lockdown restrictions eased. The services sector – which spans industries from bars and hotels to banking – is the biggest contributor to the country’s economy. The fastest expansions were recorded in technology, media and telecoms sub-sector, as well as the business services. Similar to those operating in the manufacturing sector, service providers faced increasing cost pressures last month. Charges rose most in business services sub-sector, followed by transport, tourism and leisure, according to the PMI.

Source: Irish Independent June 03, 2021 01:30 UTC