Economy

Strong consumer sentiment saw sustained growth in service sector in May - AIB

Bank’s latest PMI pointed to 2-year lows in input cost and output charge inflation and staffing difficulties in the industry

Last month’s Services Business Activity Index posted at 57.0. Picture: Getty

Strong demand facilitated sustained growth in the service sector during May, according to new AIB data, as business sentiment continued to prosper in the same period.

The bank’s latest Purchasing Managers' Index (PMI) showed that activity and new enterprise both rose sharply in the service industry last month, albeit at a weaker rate than that seen in April, while businesses continued to grapple with staffing issues.

Last month’s Services Business Activity Index - a diffusion ...