Tourism Business Drops Again
Irish tourism and leisure businesses reported a fifth successive monthly decline in activity levels last month but continued to increase prices amid a slowdown in growth across the wider services sector, according to AIB.
Based on a survey of some 400 companies, the bank’s latest purchasing managers’ index (PMI) report suggests continued growth in activity across the wide-ranging services sector in July, albeit at a slower pace than the previous month.
The headline index fell from 51.5 in June to 50.9, just nine basis points above the neutral 50 threshold, which separates an expansion from a contraction in activity levels.
AIB Chief Economist David McNamara said the bank’s latest PMI shows a “further easing in growth” across the services sector.
The transport, tourism and leisure (TTL) subsector, meanwhile, recorded a fifth successive monthly decline in activity, AIB said.
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