Services sector growing fast but costs increase 

AIB index signalled the fastest pace of expansion in the sector since September 2023

Input cost inflation and charge inflation are at 10- and 12-month highs, respectively. 

The services sector saw the fastest rate of growth in five months during February, but inflationary pressures continued to add to input costs, the latest AIB Services Purchasing Managers Index (PMI) shows.

The index is a single-figure indicator of the performance of the services sector with any number greater than 50.0 indicating an overall improvement in the sector. The index is calculated from a question to business-owners that asks about changes in the volume of business activity compared with one month previously.