Irish services sector growth slows in April, PMI shows

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The AIB S&P Global Purchasing Managers' Index (PMI) was 53.3 in April, down from 56.6 in March, which is the slowest rate of growth since January. AIB's Chief Economist David McNamara said that while Irish firms continued to report rising levels of new business, there was a notable decline in new and outstanding business in the TMT sector, which dragged the TMT business activity index to its weakest rate of growth in more than three years. "Employment continued to rise in the services sector overall and across all four sectors, but the pace of job creation decelerated in April, particularly in the TMT sector," he said.