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Growth in Ireland’s services sector continued at pace in May, but slowed slightly from the previous month, according to survey data on Tuesday.
The AIB services purchasing managers’ index posted at 57.0 points, down from 58.4 in April. Remaining above the 50-point no-change mark, it shows the sector remains in expansion.
‘There was yet another steep increase in new business volumes in Irish services firms, including new export business, reflecting strong demand conditions, both at home and abroad. Employment posted a further solid rise, though firms reported difficulties in sourcing staff,’ said Oliver Mangan, AIB chief economist.
The composite PMI - which measures services and manufacturing - was 51.9, down from 53.5. On Thursday, the manufacturing PMI fell to 47.5 from 48.6 - indicating the sharpest deterioration in the Irish factory sector in three years.
The services PMI is compiled by S&P Global from the responses to a survey sent to purchasing managers at about 400 services companies in Ireland, with data collected between May 11 and 25.
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