DUBLIN, March 3 (Reuters) - Growth in the Irish services
sector accelerated sharply in February to reach its highest
level in nine months as firmer demand conditions pushed
confidence among employers higher, a survey showed on Friday.
The AIB S&P Global Purchasing Managers' Index (PMI) for the
sector rose to 58.2 from 54.1 in January, marking exactly two
successive years where activity has remained above the 50 mark
separating growth from contraction.
While new orders from home and abroad both rose and business
expectations hit the highest level in a year, the pace of price
inflation by service providers re-accelerated from January's
16-month low.
The sub-index rose to 61.5 from 58.8 - even as the rate of
input cost inflation slowed again - with the survey's authors
saying anecdotal evidence suggested increasing labour expenses
were a primary driver in the latest rise.
Annual Irish inflation unexpectedly ticked back up to 8%
last month from 7.5% in January, flash data showed on Wednesday.
Finance Minister Michael McGrath said last week that he
expected Irish inflation to average between 4% and 5% across
2023, lower than the 7.1% his department most recently forecast
last September.
(Reporting by Padraic Halpin; Editing by Toby Chopra)
Messaging: padraic.halpin.thomsonreuters.com@reuters.net))
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