Slowdown in Irish services sector as Iran fears weigh on businesses

Latest PMI shows new business activity growing at slowest in six months

Fears over the continuing US and Israeli war on Iran contributed to a slowdown in the Irish services sector, with new business activity expanding at its slowest pace in six months, according to the latest Price Managers Index (PMI) released on Tuesday. Picture: AP Photo/Mark Schiefelbein

Fears over the continuing war on Iran contributed to a slowdown in the Irish services sector, with new business activity expanding at its slowest pace in six months, according to the latest Price Managers Index (PMI) released on Tuesday.

The AIB Services PMI showed the Irish service sector expanded only slightly in March and inflationary pressures escalated. Activity increased overall but at one of the weakest rates over the past five years, as new business growth moderated.