Friday 15 November 2019

Services sector growth quickens

The rate of growth in new export orders quickened, with a number of respondents highlighting new business from UK customers (stock picture)
The rate of growth in new export orders quickened, with a number of respondents highlighting new business from UK customers (stock picture)

Growth in the Irish services sector accelerated in September on the back of a further sharp expansion in new business.

That is according to the latest Services Purchases Managers Index (PMI) from ISH Markit.

The headline PMI was 58.7 in September, up from 58.0 in August. Any reading over 50 is deemed growth.

Moreover, the rate of growth quickened to a three-month high. Activity has now increased continuously since August 2012. According to respondents, higher new orders and increased staffing levels contributed to the latest rise in activity.

The rate of growth in new export orders quickened, with a number of respondents highlighting new business from UK customers.

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