AIB PMI: Irish services sector hits January slump as expansion falls to 35-month low

The findings of AIB’s survey showed “a loss of momentum in Irish service sector activity” which resulted in only “fractional growth” for the month

The Irish financial sector was a bright spot in an otherwise weaker set of results examining the level of activity in the country’s services industries, according to the latest AIB Services PMI. Picture: Derek Speirs

The rate of expansion in the Irish services sector fell sharply in January, to a 35-month low, as input costs rose.

The AIB Irish Services purchasing managers’ index (PMI) for January showed continuing but weaker growth in the sector last month with a reading of 50.5, down from 53.2 in December, representing a modest overall increase.

The PMI asks for changes in the volume of business activity compared with one month previously, with a reading ...