Services sector records strong November growth

Performance the 'fastest pace of expansion' recorded in the services sector since April 2023, economist says

The financial services sub-sector was the top performer in November, followed by the technology, media and telecoms sector. 

The service sector saw strong growth during the month of November as demand conditions improved, with new business rising at the fastest rate in eight months, the latest AIB Purchasing Managers Index for the services sector shows.

For the month, the services sector had a PMI reading of 58.3 — well ahead of the 53.8 recorded in October. The PMI is derived from questions firms are asked about the volume of activity compared with the prior month, with any number above 50 indicating growth.