Ireland's service sector displayed marginal growth in August 2024, according to the latest AIB Ireland Services PMI data released on September 4, 2024. The index nudged up to 53.8 from the previous 53.6 recorded in July this year.
The slight improvement in the PMI suggests that the service sector continues to expand, albeit at a modest pace. A reading above 50 indicates expansion, so the sector remains resilient despite facing ongoing economic uncertainties.
This positive albeit minimal increase could be a reflection of Ireland’s steadiness in maintaining service sector activity, driven by a combination of domestic demand and international business engagements. Analysts believe that incremental improvements like this act as crucial indicators of sustainable health in a key segment of the Irish economy.
