Activity in the country's services sector rebounded in September, with growth in output and new business increasing at the fastest rate in four months, a survey showed today.
The AIB Global S&P Purchasing Managers' Index (PMI) climbed to 53.5 in September from 50.6 in August, comfortably above the 50 level that separates growth from contraction.
The services sector covers four areas as diverse as communication, financial and business services, IT and the tourism trade.
Of the sectors included in the survey, technology, and media and telecoms performed best, expanding at the strongest rate in two years.
Business services and financial services also saw moderate growth, while transport, tourism and leisure continued its recent decline.
Employment at service providers increased in September, following a round of job-shedding in August, and new business increased at the quickest rate since May, driven by a surge in international demand, particularly from the US and UK.
However, outstanding business levels were largely unmoved, reflecting recent demand weaknesses.
Inflationary pressures intensified, with input prices and charges rising at the fastest rates in six and four months, respectively. Wage and energy costs were significant contributors, particularly impacting transport, tourism and leisure
