Growth in the service sector surges, while inflation adds pressure - AIB

David McNamara, AIB chief economist, said that the rising levels of new business was ‘linked in part to robust international demand’

Wages continued to drive an increase in prices for the forty-fourth successive month, according to employers. Picture: Maura Hickey

Growth in the service industry surged in February while inflation added further pressure on prices, according to a new report.

The Ireland services business index – calculated from changes in the volume of business activity compared with one month previously – rose from 50.5 in January to 54.4 in February, the fastest rate of increase since September.

The latest figure, included in the AIB Ireland Services PMI published on Wednesday morning, marks three years of ...