Economic Indicators

Irish services growth picks up, bucking euro zone trend – PMI

2022.08.04 03:15

Irish services growth picks up, bucking euro zone trend - PMI
People not wearing masks sit outdoor at a restaurant in the city center, as the coronavirus disease (COVID-19) restrictions begin to ease, in Dublin, Ireland January 22, 2022. REUTERS/Clodagh Kilcoyne/File Photo

DUBLIN (Reuters) – Growth in Ireland’s services sector accelerated for the first time in four months in July, a survey showed on Thursday, bucking the deteriorating trend seen across the euro zone as a whole and in neighbouring Britain.

The AIB S&P Global (NYSE:SPGI) Purchasing Managers’ Index (PMI) rose to 56.3 from 55.6 in June, moving slightly further above the 50 mark separating growth from contraction where it has remained for 17 successive months.

The index hit 63.4 in March, before inflationary pressures and increasing uncertainty linked to Russia’s invasion of Ukraine interrupted a rapid recovery from COVID-19 lockdowns.

The gap between the July Irish reading and the rest of the euro zone also widened after the reading for the bloc dipped to 51.2 from 53.0, led by slowing growth in Spain and France, and contraction in Germany and Italy.

Service sector growth slowed to a 17-month low of 52.6 in Britain, down from 54.3 in June.

The pick up in Ireland was driven by an upturn in new export business, with respondents pointing to the return of tourism and stronger client demand in key markets such as Britain.

Each of the four sub-sectors covered in the survey expanded with financial services registering the strongest rate of growth.

Business expectations strengthened to a three-month high as a result, up sharply to 67.0 from 61.8.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,473.38 0.16%
ethereum
Ethereum (ETH) $ 3,465.69 1.08%
tether
Tether (USDT) $ 0.99907 0.03%
xrp
XRP (XRP) $ 2.28 2.37%
bnb
BNB (BNB) $ 700.24 0.61%
solana
Solana (SOL) $ 198.03 0.80%
dogecoin
Dogecoin (DOGE) $ 0.329207 1.60%
usd-coin
USDC (USDC) $ 1.00 0.03%
staked-ether
Lido Staked Ether (STETH) $ 3,461.58 0.89%
cardano
Cardano (ADA) $ 0.910647 3.26%
tron
TRON (TRX) $ 0.256631 0.35%
avalanche-2
Avalanche (AVAX) $ 40.33 2.22%
chainlink
Chainlink (LINK) $ 24.51 0.88%
the-open-network
Toncoin (TON) $ 5.94 2.48%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,111.47 0.74%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 1.48%
sui
Sui (SUI) $ 4.52 1.81%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,367.36 0.18%
hedera-hashgraph
Hedera (HBAR) $ 0.314783 1.44%
stellar
Stellar (XLM) $ 0.382339 7.20%
polkadot
Polkadot (DOT) $ 7.46 0.86%
weth
WETH (WETH) $ 3,465.27 1.06%
hyperliquid
Hyperliquid (HYPE) $ 28.16 6.53%
bitcoin-cash
Bitcoin Cash (BCH) $ 459.35 3.38%
leo-token
LEO Token (LEO) $ 9.53 0.50%
uniswap
Uniswap (UNI) $ 13.83 4.78%
litecoin
Litecoin (LTC) $ 108.26 1.37%
bitget-token
Bitget Token (BGB) $ 5.64 15.53%
pepe
Pepe (PEPE) $ 0.000018 4.29%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,657.47 1.02%
near
NEAR Protocol (NEAR) $ 5.42 2.74%
ethena-usde
Ethena USDe (USDE) $ 0.999182 0.02%
aave
Aave (AAVE) $ 370.34 1.47%
usds
USDS (USDS) $ 0.999749 0.11%
internet-computer
Internet Computer (ICP) $ 11.22 0.35%
aptos
Aptos (APT) $ 9.56 1.92%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.513672 2.75%
crypto-com-chain
Cronos (CRO) $ 0.158195 4.75%
vechain
VeChain (VET) $ 0.051622 2.34%
mantle
Mantle (MNT) $ 1.24 0.20%
ethereum-classic
Ethereum Classic (ETC) $ 27.19 3.56%
render-token
Render (RENDER) $ 7.52 4.31%
bittensor
Bittensor (TAO) $ 504.51 1.35%
whitebit
WhiteBIT Coin (WBT) $ 25.07 1.04%
monero
Monero (XMR) $ 194.43 1.04%
mantra-dao
MANTRA (OM) $ 3.76 1.21%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.35 3.67%
dai
Dai (DAI) $ 0.999581 0.11%
arbitrum
Arbitrum (ARB) $ 0.795343 3.11%
filecoin
Filecoin (FIL) $ 5.28 3.75%