Services sector sees strong growth as input costs ease

Chief economist at AIB David McNamara said overall Irish firms reported strong growth in new business, and this was linked to both domestic and export demand

Input price inflation moderated to the lowest level since February 2021.

Activity in the Irish services sector increased at the strongest rate in six months during September as orders grew and cost pressures eased, the latest AIB Purchasing Managers Index (PMI) shows.

The PMI registered a reading of 55.7 last month, with any reading above 50 indicating an increase in activity. This is the second fastest rate of expansion in over a year and up from the August reading of 53.8.