Growth in the services sector slowed to a four-month low

  • Growth in the services sector slowed to a four-month low
    Independent.t. E.
    Growth in the services sector slowed to a four-month low in July, according to the latest services managers buyers index from specialist Bank Investec.
    https://www.independent.ie/business/irish/services-growth-slows-to-a-fourmonth-low-37183353.html
    https://www.independent.ie/business/jobs/article37183390.ece/f4725/AUTOCROP/h342/32Services.jpg

  • Email

Growth in the services sector slowed to a four-month low in July, according to the latest services managers buyers index from specialist Bank Investec.

However, the PMI 57.4, compared to the June reading of 59.5, it is still consistent with a sharp pace of expansion.

Any reading over 50 represents growth.

The growth in this sector was a disc with high demand, new orders and new export orders components of the index both point to a significant expansion of the portfolio.

From the point of view of business abroad, firms referred to in the UK, India, France and the Netherlands in particular bright spots, according to the chief of Investec Ireland economist Philip O’sullivan.

The company responded to increasing demand by taking on more staff, with the employment index recording the 71st in a row above the 50 value.

Within a month, the cost rose sharply, which the company blamed on higher drinks, fuel, insurance and rental prices.

A number of firms also indicated that the wages were raised due to the higher cost of living and efforts to retain staff.

Online Business Classes