Irish service sector progress at 19-month excessive in November, PMI exhibits

DUBLIN (Reuters) – Progress in Eire’s providers sector rose in November to its highest since April final yr as new home and export orders elevated, a survey confirmed on Wednesday.

The AIB International S&P Buying Managers’ Index (PMI) climbed to 58.3 in November from 53.8 in October. The index has been above the 50 mark that separates progress from contraction since March 2021.

All 4 sub-sectors posted sooner progress, with monetary providers one of the best performer, the survey confirmed.

New enterprise rose at its quickest tempo since March, whereas export orders improved for the fourth month in a row.

Wages and gas have been cited as key drivers of upper prices, however costs charged rose on the slowest tempo since April 2021, the survey confirmed.