Ireland Services PMI Growth Improves … RTT
Ireland Services PMI Growth Improves In April
Ireland’s service sector activity signaled improved growth momentum in April, boosted by favorable economic conditions and robust demand, survey data from IHS Markit showed
The seasonally adjusted Investec services Purchasing Managers’ Index rose to 58.4 in April from 56.5 in March.
Any reading above 50 indicates expansion in the sector.
Among components, new orders, activity, employment all increased at faster rates in April
On the price front, input price inflation accelerated to a 16-month high in April, led by higher staff costs and rising fuel and insurance prices. In contrast, charge inflation eased to the lowest rate in one-and-a-half
“The forward looking Confidence index improved to a seven month high, suggesting that there is more to the stronger readings in this report than just the absence of the inclement weather that dampened the previous
month’s performance,” Philip O’Sullivan, Chief Economist at Investec Ireland, said.
by RTTNews Staff Writer