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Ireland’s services sector continued to grow in June, but the rate of expansion slowed slightly from May, according to survey data on Tuesday.
The AIB services purchasing managers’ index posted at 56.8 points in June, down from 57.0 in May. Remaining above the 50-point no-change mark, it shows the sector remains in expansion.
‘The robust performance reflected strong demand in the sector. This was evidenced by another very solid increase in new business volumes at Irish services firms, driven by ongoing strength in both domestic and external demand,’ said Oliver Mangan, AIB chief economist.
‘The combination of increased output levels and an expanding order book saw the sector record another solid rise in employment. The continuing strong growth in new business saw a further rise in the level of outstanding work.’
The composite PMI - which measures services and manufacturing - fell to 51.4 points in June, from 51.9 in May. On Monday, the manufacturing PMI fell to 47.3 from 47.5 - the fourth month in a row of contraction in activity for Irish factories.
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 June 12 and 27.
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