Activity in the country's services sector last month rose at the weakest rate in six months, according to the latest Purchasing Managers' Index from AIB.
The report notes that while the Irish services economy expanded in February, the sector "continued to lose momentum".
The seasonally adjusted AIB Ireland Services Business Activity Index dipped fell for the third month in a row, from 54.5 in January to 51.8 in February.
A reading above 50 indicates an overall increase compared to the previous month and below 50 an overall decrease.
AIB said the latest figure "signalled the softest rate of expansion in total activity in six months, and one that was below than the long-run survey average for the third successive month".
However, it noted that February's expansion "nevertheless extended the current sequence of growth to five years".
The latest Services PMI said growth in new business also moderated in February, for the third month running.
The latest expansion was the softest in six months, and below the long-run trend.
New business fell slightly in Transport, Tourism and Leisure, but rose solidly elsewhere, while new export business rose only modestly during February.
AIB chief economist David McNamara said activity growth in February was "largely driven by gains in new and outstanding business, alongside a rise in employment".
He said the four sub-sectors covered in the survey "registered varying degrees of activity" in February.
"Financial services registered the fastest growth once again, with more modest gains in Business Services, and close to stagnant growth in Transport, Tourism and Leisure."
"However, Technology, Media and Telecoms recorded a fractional contraction in activity in the month", he added.
Mr McNamara said hiring activity was also "mixed across the sectors, with financial services again the best performer during the month, offsetting weaker trends in the other sectors".
The Services PMI also concluded that inflationary pressures remain strong.
David McNamara said the input cost index "remained elevated, implying rising cost pressures in the sector".
"Wages, pensions and energy costs were cited as key drivers of higher costs. However, the rate of increase in prices charged decelerated, implying some margin compression for firms seeking to pass on these higher costs", he added.
The survey found that Irish service providers are confident regarding the 12-month outlook.
"Confidence was linked to increasing demand, new markets, new clients and marketing campaigns."
AIB said sentiment strengthened overall in February but remained below the long-run average.
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