Economy

Services sector continues bounceback as sentiment hits 11-month high amid declining inflation

AIB’s latest purchasing managers’ index shows growth across many industries despite ‘weak performance’ in travel and tourism

AIB’s purchasing managers’ index showed growth in the Irish services sector was the strongest since last September. Picture: Getty

Ireland’s services sector has had a “strong start to 2023”, with higher levels of activity across various industries as inflation eased and staff numbers grew, according to the latest AIB purchasing managers’ index survey.

The services sector, which encompasses everything from transport to hairdressers, showed further evidence of a bounce-back in January after months of weak growth or regression, the index said.

And sentiment in the sector was the strongest in 11 months as optimism ...