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Ireland’s services sector is expanding rapidly

Ireland's service sector has continued to grow at a fast-pace. The Investec Purchasing Managers' ...
Newstalk
Newstalk

11.31 4 Feb 2015


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Ireland’s services sector is e...

Ireland’s services sector is expanding rapidly

Newstalk
Newstalk

11.31 4 Feb 2015


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Ireland's service sector has continued to grow at a fast-pace. The Investec Purchasing Managers' Index of service activities reached 62.5 in January - just short of December 2007's 62.6 reading.

The index measures all service activities - any reading over 50 indicates growth.

A subindex that measures activity by new businesses was at 62.8 - the lowest level since August.

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The overall growth of new orders slowed slightly after a string of strong months.

The rate of employment growth in January was the third highest level in two and a half years.

Investec Ireland's chief economist Philip O'Sullivan said: "Taken together with Monday's Manufacturing PMI report, this release shows a solid start to 2015 for a sizeable proportion of the private sector in Ireland."

The corresponding figure for the whole of the euro zone is 52.6 - its highest reading since July.

New figures also show that retail sales in the euro zone grew at the fastest pace in nearly eight years in 2014.


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