Services firms here logged solid activity growth again in January, remaining close to the long-run average in a key survey as employment and new export orders strengthened, the results of a new survey show today.
AIB's Ireland Services Business Activity Index fell only slightly to 54.5 from 54.8 in December. While that was still lower than November's 42-month high of 58.5, it was comfortably above the 50-point threshold that indicates expansion.
While new business growth decelerated to its weakest rate since last August, despite the rebound in exports, three out of the four categories surveyed registered growing workforces in January, led by business services.
Jobs growth in the important services sector has been uneven in recent months, mainly due to recruitment among technology, media and telecoms firms decreasing at the fastest pace since the Covid-19 pandemic.
The tech slump eased to a more fractional decrease last month, the survey's authors said.
Wage, pension and energy cost pressures pushed input prices higher, echoing a similar trend for manufacturing firms. Service providers increased the prices they charge at the fastest rate since May 2024 to protect margins.
Inflation across the economy is now running above the euro zone average, although it did ease to 2.6% in January from a near two-year high of 3.1% two months earlier, a flash estimate showed last week.
