Services sector growth slows as recession fears and energy crisis weigh on confidence
Latest index remains above 50 mark, signifying expansion, but is the weakest rise in its 21-month growth sequence
Growth in Ireland’s services sector slowed considerably in November amid recession fears, the rising cost of living and the energy crisis.
The latest AIB Purchasing Managers Index (PMI) showed that while new work, total activity, and outstanding business all rose last month, there was a considerable loss of momentum as the activity index fell to 50.8 from 53.2 in October.
The index remains above the 50 mark, signifying expansion, but is the weakest rise in ...