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Overall private sector growth in Ireland slowed in September, despite a robust showing in the service sector, survey results from S&P Global showed on Wednesday.
The AIB services purchasing managers’ index slipped to 54.5 points in September from 55.0 in August, remaining well above the neutral 50-point mark and indicating expansion. September’s figures indicated the weakest growth since January.
The composite PMI fell to 52.1 points in September from 52.6 in August, showing an overall slowdown in the growth of the Irish private sector.
‘The solid performance by the Irish services sector in September reflects ongoing healthy growth in new business, both from domestic and export customers. However, the rate of growth in new work has eased in recent months. Meanwhile, employment continued to increase at a solid pace, while there was another significant rise in the level of outstanding work. Firms also remained very optimistic about their expectations for business activity over the coming twelve months,’ said Oliver Mangan, AIB
Chief Economist.
On Monday, S&P Global had reported the manufacturing PMI declined to contraction territory at 49.6 points in September from 50.8 in August. The composite PMI is a blend of the two sectoral PMIs.
The services PMI is compiled by S&P Global from the responses to a survey sent to 400 service providers in Ireland. The responses were collected between September 12 and 26.
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