Growth in services sector slows for sixth month in a row

AIB found that, during October, only two sectors in the services industry recorded growth — the technology, media, and telecoms sector and the financial services sector. 

The rate of growth in the services sector continued to slow for the sixth month in a row as the volume of new business rose only “fractionally” and international demand declined, a new report from AIB shows.

The AIB Ireland Services Business Activity Index showed that only two of the four monitored sectors registered growth in October — technology, media, and telecoms with an index of 59.7 and financial services with an index of 57.7.