Services sector records solid growth in October

Rising levels of output were supported by a solid increase in new work

Rising levels of output supported by a solid increase in new work drove growth in the sector. 

The Irish services sector recorded solid growth during October, despite falling back from its six month-high during September, on the back of rising levels of output and a solid increase in new work, the latest AIB Purchasing Managers Index (PMI) shows.

The PMI reading for the sector during October stood at 53.8 - down from the 55.7 reading recorded in September. A PMI is calculated from a series of questions that asks firms about the changes in the volume of business activity.