The first batch of AIB PMI® survey data for 2024 signalled a loss of momentum in Irish service sector activity, albeit still extending the current growth sequence that began in March 2021. Rates of expansion in total activity and new business both slowed on the month, with the former rising at the weakest pace in the current upturn. Looking ahead to 2024, however, confidence remained relatively high. Employment picked up from December's 34-month low. Inflationary pressure rose as both price indicators reached seven-month highs.