05.12.202310:21:00UTC+00Irish Services Growth Improves In November

Ireland's service sector activity expanded at an accelerated pace in November amid easing inflationary pressures, survey data from S&P Global showed Tuesday.

The AIB Services Purchasing Managers' Index rose to 54.2 in November from 52.6 in October. A score above 50 indicates expansion in the sector.

All four subsectors registered strong activity in November, with technology growing the fastest, followed by media and telecoms.

Total new orders received by Irish service providers increased sharply in November, and the rate of growth improved for the first time in seven months. Foreign demand strengthened at a moderate pace.

Employment showed a faster increase in November, which was more evident in technology, media, telecoms, and financial services.

On the price front, input price inflation eased to a 31-month low in November, and charge inflation also slowed during the month to a two-and-a-half year low.

The composite output index climbed to 52.3 from 49.7 in October, indicating a modest rate of growth in private sector activity in Ireland.