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Financial News: Ireland Services Sector Growth Improves In August

Ireland Services Sector Growth Improves In August

09/05/2018 - 06:52:00 (RTTNews)

(RTTNews) - Ireland's service sector grew at a faster pace in August, underpinned by stronger activity, new orders and employment, survey data from IHS Markit showed Wednesday.

The Investec Services Purchasing Managers' Index rose to 58.0 from a four-month low of 57.4 in July. A reading above 50 suggests growth in the sector.

Meanwhile, the raes of both input and output prices inflation also accelerated in August.

"Considered alongside the Investec Manufacturing PMI Ireland report, this week's PMI releases suggest that the rate of growth in activity across much of Ireland's private sector remains strong," Philip O'Sullivan, chief economist at Investec Ireland, said.

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