DUBLIN (dpa-AFX) - Ireland's service sector declined for the second straight month in October, albeit at a softer pace, survey data from IHS Markit showed on Wednesday.
The AIB Ireland services Purchasing Managers' Index rose to 48.3 in October from 45.8 in September. Any score below 50 indicates contraction in the sector.
The volume of new business continued to fall in October and the rate of decline in new orders eased since September.
Employment and backlogs of work fell for the eighth month in a row in October.
The 12-month outlook for business activity remained positive in October as firms expect a fading impact from the Covid-19 pandemic.
Cost pressures remained strong in October. Input prices continued to increase and average charges rose for the second straight month.
Private sector output, covering manufacturing and services, decreased for the second straight month in October. The composite output index rose to 49.0 in October from 46.9 in the previous month.
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