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Financial News: Ireland Services Growth At 4-Month High

Ireland Services Growth At 4-Month High

10/04/2017 - 01:43:00 (RTTNews)

(RTTNews) - Ireland's service sector activity expanded at the sharpest pace in four months in September, survey data from IHS Markit showed Wednesday.

The seasonally adjusted Purchasing Managers' Index for the services sector rose to 58.7 in September from 58.4 in August. Any reading above 50 indicates expansion in the sector.

New orders grew sharply in September despite the rate of growth easing from August. Growth in new export orders accelerated to a 7-month high.

Confidence picked up markedly and companies again looked to expand their capacity by taking on additional staff.

On the price front, input price inflation remained elevated in September, driven by salary increases. Meanwhile, the rate of output price inflation eased.

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