5th Jun 2025 04:00
(Alliance News) - Overall business activity in Ireland increased in May, S&P Global reported on Thursday.
The AIB Ireland composite purchasing managers' index rose to 54.9 in May, up from 54.0 in April.
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 increased to 54.7 in May, up from 52.8 in the prior month.
David McNamara, AIB chief economist, said: "The uptick was driven by stronger new business growth and a recovery in output expectations, albeit outstanding business and employment growth both eased. Overall, the rate of growth in the Irish services sector outperformed the Eurozone, UK and US flash PMIs for May, at 48.9, 50.2, and 52.3, respectively."
S&P Global reported on Tuesday that the manufacturing PMI fell to 52.6, down from April's 34-month high of 53.0.
The latest reading marks the fifth consecutive month of expansion in the manufacturing sector.
S&P Global compiles the PMI figures each month using survey responses from a panel of around 250 manufacturers and 400 service sector companies.
By Elijah Dale, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.