6th Aug 2025 02:50
(Alliance News) - Ireland's private sector expanded at a slower pace in July as services sector growth softened to its weakest level since early 2024, S&P Global reported Wednesday.
The AIB Ireland composite purchasing managers' index fell to 52.5 in July, down from 52.8 in June.
A reading above the 50.0 neutral mark indicates an overall increase in business activity from the previous month, while a reading below signals a contraction.
Specifically, the services PMI fell to 50.9 in July from 51.5 in June, reflecting the weakest rate of expansion in the sector recorded since January 2024.
David McNamara, AIB chief economist, said: "New business grew at a marginal pace in July, one of the slowest expansions in the current sequence that began in 2021. From a sectoral perspective, just three of the four sub-sectors expanded output and
new business on the month.
"Despite the weak current activity level, firms in the Irish services sector remained optimistic on the prospects for expansion in activity levels over the coming 12 months, with sentiment ticking up slightly on last month. While many noted economic uncertainty, most continue to expect sales growth in the coming year."
S&P Global reported on Friday that the manufacturing PMI fell to 53.2 in July, down from a 37-month high of 53.7 in the previous month.
S&P Global compiles the PMI figures each month using survey responses from a panel of around 250 manufacturers and 400 service sector companies. The composite figure is a weighted average of the services and manufacturing indices.
By Elijah Dale, Alliance News senior reporter Asia-Pacific
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