Ireland: Services PMI falls in January
The AIB Ireland Services Purchasing Managers’ Index (PMI) fell to 50.5 in January from 53.2 in December. As a result, the index remained above the 50.0 no-change threshold, but signaled a softer improvement in services sector operating conditions compared to the previous month.
The AIB Services PMI for showed a slowdown in the service sector’s expansion, with the weakest rise in activity in 35 months. Despite increasing levels of new business, the pace of growth eased, and the volume of outstanding work fell for the first time in 35 months. Employment continued to rise, and business sentiment about future activity remained high. However, inflationary pressures strengthened, with input prices and service charges rising at the fastest rates since last June.