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Financial News: Ireland Services Growth Remains Strong In June

Ireland Services Growth Remains Strong In June

07/05/2017 - 02:14:00 (RTTNews)

(RTTNews) - Ireland's service sector activity maintained strong growth momentum in June, though the rate of growth eased since May, survey data from IHS Markit showed Wednesday.

The seasonally adjusted Purchasing Managers' Index for the services sector dropped to 57.6 in June from 59.5 in May. However, any reading above 50 indicates expansion in the sector.

New orders registered further rise in June, albeit at a slower pace than in May. Meanwhile, he rate of growth in new export orders quickened to a three-month high.

The rate of job creation across the service sector up to a three-month high in June, as companies took on extra staff in line with rising workloads and positive expectations regarding the future.

On the price front, input costs increased at the slowest pace since last November, but output price inflation accelerated.

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