Services sector growth slows in August as employment hits lowest since 2020

Irish services sector recorded only marginal growth in August, with tourism and leisure dragging jobs to lowest levels since 2020

The transport, tourism, and leisure sub-sectors were the worst performing segment of the services sector in August. File picture: Getty

The services sector saw slow growth during August — with the tourism and leisure sector being the weakest performer — leading to the overall level of employment falling to “lowest levels since October 2020”, the latest AIB Services Purchasing Managers Index (PMI) shows.

During August, the PMI had a reading of 50.6, down from the 50.9 recorded in July. The PMI is calculated based on a survey of firms on the changes in the volume of business activity compared with one month prior. Any number above 50 denotes an increase in activity.