Irish Services Sector Shows Strong Growth Amid Economic Resilience
Ireland's services sector shows robust growth in September, with PMI rising to 53.5, marking the fastest expansion in four months despite global economic pressures.
Irish business district showcasing growing services sector activity
Ireland's services sector demonstrated remarkable resilience in September, marking its fastest growth pace in four months as the nation's economic position strengthens amid global uncertainties.
Service Sector Performance Highlights
The AIB Ireland composite purchasing managers' index (PMI) climbed to 52.0 in September from August's 51.3, with the services PMI specifically rising to 53.5 from 50.6. This growth trajectory reflects Ireland's economic adaptability in challenging times.
"This marks the fastest pace of growth in four months, driven by gains in new business activity and employment," noted David McNamara, AIB chief economist.
Sector-Specific Performance
- Technology, media, and telecoms led growth
- Business services showed moderate expansion
- Financial services maintained steady progress
- Transport, tourism, and leisure continued declining
Cost Pressures and Future Outlook
Input costs hit a six-month high, with businesses citing increased expenses in:
- Wages and energy costs
- Freight and transportation
- Food and fuel prices
Despite these challenges, Irish service providers maintain optimistic projections for the year ahead, backed by investments in new products and growing international demand.
Manufacturing Sector Alignment
The manufacturing PMI also showed positive movement, rising to 51.8 in September from 51.6 in August, indicating a broader economic resilience across sectors.
Van Morrison
Irish journalist exploring the intersections of politics, culture, and identity across Ireland and the wider Celtic world.