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Irish services sector expands faster in December

Christian Fernsby ▼ | January 8, 2020
Ireland’s services sector grew at the fastest pace in six months in December amid a burst of business confidence that a number of firms linked to reduced Brexit uncertainty, a survey showed.
Ireland street people
Irish economy   A slowdown in manufacturing activity in Ireland
A slowdown in manufacturing activity in the European Union’s fastest-growing economy had threatened to spread to the services sector in October as seven years of uninterrupted growth weakened to a near standstill.

Topics: Irish service

However, the AIB IHS Markit Purchasing Managers’ Index (PMI) for services rebounded for a second successive month to 55.9 from 53.7 in November, comfortably above the 50 mark that separates growth from contraction.

The recovery was driven by stronger domestic orders. The subindex measuring business expectations, which hit an eight-year low in September, shot up to a 17-month high of 70.3 last month from 66.4 a month earlier.