Slower services growth as new business loses momentum

The fall in the AIB Services PMI was mainly due to a slowdown in new business growth, which was the weakest in two and a half years

Confidence among service providers slumps. Pic: Getty

New figures show that the service sector of the Irish economy continued its long run of growth in April, but at its slowest pace for three months.

The AIB Services PMI, compiled by research group Markit, came in at 54.7 last month, down from 55.3 in March. Any figure above 50 signals growth.

AIB chief economist Oliver Mangan said the figures suggest that the Irish economy is continuing to expand at a good ...