Ser­vice in­dus­try sec­tor suf­fer­ing a slow down

The Kerryman (South Kerry Edition) - - NEWS -

GROWTH in Ire­land’s ser­vices sec­tor eased to its low­est in al­most a year last month.

A drop-off in op­ti­mism was also recorded in Oc­to­ber, with ser­vice providers the least con­fi­dent since Septem­ber 2016, ac­cord­ing to the lat­est Pur­chas­ing Man­agers’ In­dex (PMI).

How­ever to­tal new busi­ness in­creased at a sub­stan­tial pace, with the rate of growth ac­cel­er­at­ing from the pre­vi­ous month.

“Some­what puz­zlingly, the for­ward-look­ing ‘Busi­ness Ac­tiv­ity: Ex­pected Lev­els in 12 Months’ in­dex weak­ened to its low­est since Septem­ber 2016 in spite of the stronger client or­ders,” said Philip O’Sul­li­van, econ­o­mist with In­vestec, which pro­duces the re­port.

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