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Financial News: Ireland Services Growth Strongest In 5 Months

Ireland Services Growth Strongest In 5 Months

07/04/2018 - 02:07:00 (RTTNews)

(RTTNews) - Ireland's service sector activity expanded at the fastest pace in five months in June, driven by strong rise in new business, survey data from IHS Markit showed Wednesday.

The seasonally adjusted Investec services Purchasing Managers' Index rose to 59.5 in June from 59.3 in May. Any reading above 50 indicates expansion in the sector.

New orders rose at a sharp and accelerated pace in June amid reports of strong client demand from both domestic and export markets.

Services companies increased staffing levels for the seventieth successive month, with the rate of job creation quickening to the fastest in six months.

On the price front, both input costs and output prices rose at faster rates than in May.

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