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Ireland PMI September 2021

Ireland: Services PMI unchanged in September

The IHS Markit Services Purchasing Managers’ Index (PMI) came in at 63.7 in September, matching August’s reading. Consequently, the index remained entrenched above the 50-threshold, signaling a continued improvement in business conditions at an unchanged pace from the previous month.

Financial services and business services registered stronger growth than in August, with financial services’ output increasing at a close to seven-year high. This was counterbalanced by slower growth in transport, tourism and leisure as well as in technology, media and telecoms. Total services activity was boosted by a further increase in demand in September, with the volume of new business growing for the seventh month running, and at a rate which exceeded that seen in August. Moreover, outstanding business grew at an elevated rate, despite strong employment growth. Input price inflation rose to the highest level since December 2000, while output price inflation also continued to rise, albeit at a milder pace than in August.

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