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RTÉ News
06-05-2025
- Business
- RTÉ News
Services sector growth slows in April amid trade concerns, PMI shows
Growth in the country's services sector slowed in April to its lowest level in over a year as international trade tensions weighed on business sentiment, a survey shows today. The AIB Global S&P Purchasing Managers' Index (PMI) fell to 52.8 in April from 55.3 in March, still above the 50 level that separates growth from contraction where it has continuously remained for just over four years. The survey highlighted unease at the impact of US tariffs, which contributed to the weakest business expectations in four-and-a-half years. The Finance Department has said that the tarrifs could disproportionately hit the fast growing economy. New business growth slowed markedly, recording the largest monthly fall since January 2021, while new orders from abroad rose at one of the slowest rates in the current 18-month growth sequence. Today's survey shows that demand rose only fractionally in Business Services and fell at the fastest rate in over two years in Transport, Tourism & Leisure. Despite the slowdown, employment growth remained robust, with service providers continuing to expand their workforces at a solid pace. The rate of job creation was the second-fastest in eight months following an even stronger March and driven by increased outstanding work, particularly in the Technology, Media & Telecoms sector. Input price inflation eased to its weakest rate in five months, driven mainly by wages, while charges also increased at a softer pace. The sector's performance still outpaced the euro zone, UK, and US flash PMIs for April, which stood at 49.7, 48.9, and 51.4, respectively.
Reuters
05-03-2025
- Business
- Reuters
Irish services growth eases slightly in February, PMI shows
DUBLIN, March 5 (Reuters) - Growth in Ireland's services sector eased slightly in February, with both total activity and new business expanding at the weakest rate for more than a year, a survey showed on Wednesday. The AIB Global S&P Purchasing Managers' Index (PMI) fell to 53.2 from 53.4 in January. The index has been above the 50 mark that separates growth from contraction since March 2021 but has slipped since recording a 19-month high of 58.3 in November. Despite the subdued growth, employment rebounded, and outstanding business increased. Average input prices increased at the strongest rate since last May, driven mainly by wages. All sub-sectors - technology, media & telecoms, financial services, transport, tourism & leisure, and business services - showed growth, with technology, media & telecoms leading the way. Confidence in future business activity remained bright, although slightly below the long-run average, the survey's authors added. Get a look at the day ahead in European and global markets with the Morning Bid Europe newsletter. Sign up here.
