Services sector growth slows in December

The rate of growth in the Irish services sector continues to outperform the eurozone, UK, and US flash PMIs

Financial services recorded the sharpest increase in growth across the entire services sector. 

The services sector in Ireland saw a slowdown in growth during December with business activity rising at the softest rate in three months and employment increasing only modestly, the latest AIB Services Purchasing Managers Index (PMI) shows.

During December, the PMI recorded a reading of 54.8 — down from the 58.5 recorded in November which had been the highest rate of growth recorded in three and a half years at that point. The latest figure signalled the softest rate of expansion in output since last September.