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Financial News: Ireland Services Sector Expands At Slowest Pace Since

Ireland Services Sector Expands At Slowest Pace Since 2013

10/03/2019 - 01:52:00 (RTTNews)

(RTTNews) - Ireland's services activity grew at the slowest pace in more than six years in September, survey data from IHS Markit showed on Thursday.

The AIB services Purchasing Managers' Index fell to 53.1 in September from 54.6 in August. This was the slowest growth since May 2013. However, a reading above 50 indicates expansion in the sector.

New order growth eased to the lowest level in seventy-six months amid reports of Brexit uncertainty negatively affecting customer demand.

Employment level in the services sector rose further in September and outstanding work continued to rise since June 2013.

On the price front, the survey showed that input cost inflation rose slightly in September and output charge inflation quickened at the fastest rate in four months.

Business confidence eased to the lowest in nearly eight years as Brexit uncertainty weighed on sentiment. The survey showed that private sector growth slowed to a six-and-a-half year low in September as the composite output index slid to 51.0 from 51.8 in the previous month, despite manufacturing output declining for the third straight month.

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