Ireland’s services sector shrank marginally for the second month in a row in June as weak domestic demand outweighed growth in new export orders, a survey showed today. The NCB Purchasing Managers’ Index (PMI), which measures activity in the services sector, improved to 49.7 in June from 48.9 in May, but remained just below the 50 mark that separates growth from contraction.
The services sector accounts for roughly 60 percent of the Irish economy, according to economists. Growth in the sector averaged 50.7 in the first six months of this year, below an average 51.1 during the final six months of last year, when Ireland posted two consecutive quarters of economic contraction.
From Reuters
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