Services sector shows strong growth

BUSINESS activity in the Irish services sector continues to grow at a strong rate prompting companies to hire extra staff to cope with demand, according to the NCB Purchasing Manager's Index.

The seasonally adjusted Business Activity Index for February showed Irish service providers had maintained a strong rate of growth at their units during the month. The index was little changed compared to its January reading and, at 57.0, remained well above the 50.0 expansion/contraction point, signalling the ninth successive monthly improvement in overall levels of business activity.

NCB chief economist Dermot O'Brien said: "Services sector activity and optimism remain very buoyant, with new business growing strongly and signs of employment growth accelerating."