The country’s services sector returned to growth in May as activity and new business increased, a survey showed today.<\/p>\n
The AIB S&P Global Services Purchasing Managers’ Index climbed to 50.8 in May from 49.7 in April, moving back above the 50 level that separates growth from contraction.<\/p>\n
“New business bounced back to growth in May following a contraction in April, while new export business also expanded once more during the month,” AIB’s chief economist David McNamara said in a statement.<\/p>\n
“However, the volume of outstanding work fell again in May, having declined in April, amid generally weak demand conditions,” he added.<\/p>\n
Activity grew fastest in May in the technology, media and telecoms and business services sectors, while financial services saw a rebound in activity as new business expanded for the first time in three months.<\/p>\n
A surge in input prices, weaker new business and slower hiring resulted in another sharp decline in activity for the transport, tourism and leisure sector.<\/p>\n
Employment increased in all sectors except transport and tourism and leisure where employment fell for the fourth month in a row.<\/p>\n
Cost pressures remained high, with input price inflation little changed from April’s 40-month record peak.<\/p>\n","protected":false},"excerpt":{"rendered":"The country’s services sector returned to growth in May as activity and new business increased, a survey showed…\n","protected":false},"author":2,"featured_media":483048,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-483047","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/483047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=483047"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/483047\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/483048"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=483047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=483047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=483047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}