According to the latest data released by AIB Ireland, the Services Purchasing Managers' Index (PMI) for Ireland showed a positive trend in March 2024. The indicator rose to 56.6, indicating expansion in the services sector. This growth comes after the previous month's reading of 54.4 in February 2024.
The increase in the Services PMI suggests a strengthening of business activity in the service industry in Ireland. PMIs are important indicators of economic health as they provide insight into the private sector's activity levels. With the indicator surpassing the 50 mark, it signifies growth in the sector.
The data was updated on April 4, 2024, indicating a recent and positive development in Ireland's service industry during March. This rise in the Services PMI reflects optimism and expansion in the country's economic landscape.
