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EN
Irish Service Sector Growth Falls To 19-Month Low In August
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Hospitality Ireland
Ireland's service sector posted its weakest growth in 19 months in August as employment and outstanding business contracted while input costs increased, a survey showed on Wednesday.
The AIB Global S&P Purchasing Managers' Index (PMI) slipped to 50.6 in August from 50.9 in July but held above the 50 level that indicates growth.
That was marginally weaker than the average for the services sector in the wider euro zone, which slipped to 50.7 in August from 51.0 in July, according to a preliminary reading.
Despite a modest rise in new business, driven by the Technology, Media & Telecoms subsector, overall services sector demand remained subdued, with Transport, Tourism & Leisure experiencing its sixth consecutive monthly decline.
Employment in the sector decreased for the first time since January, with the sharpest cuts in Transport, Tourism & Leisure, followed by Financial Services.
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