03.07.202006:41:00UTC+00Ireland Service Sector Downturn Slows In June

Ireland's service sector contracted at a slower pace in June as lockdown measures began to be lifted, survey data from IHS Markit showed on Friday.

The services Purchasing Managers' Index rose to 39.7 in June from 23.4 in May. However, any score below 50 indicates contraction in the sector.

New work decreased in June with demand remaining subdued.

Volume of outstanding business signaled a further reduction in June and the rate of backlog depletion eased to the slowest in three months. Number of staffs continued to decline.

The 12-month outlook improved in June, with expectations turning positive.

Input prices declined for the third straight month in June and services cost fell for the fourth month in a row.

Private sector output, covering manufacturing and services, increased in June. The composite output index posted a record monthly rise of 18.6 points. The score reached 44.3 in June.