Strong growth in service sector not enough to maintain record PMI

The Irish services sector continues to show strong growth but has fallen from the six-year record figures posted in August.

The panel of 600 companies surveyed by Investec for their services purchasing managers index (PMI) found businesses were continuing to grow in confidence, finding new export markets, and creating jobs.

Philip O’Sullivan, chief economist with Investec Ireland, said businesses were positive for the 14th month in a row, with strong demand from the UK market driving both confidence and growth.