Jobs increase as services sector maintains growth for fourteenth month

THE services sector continued its strong growth and created more jobs last month, according to a leading economic survey published yesterday.

The Purchasing Managers' Index (PMI), a monthly survey carried out by stockbrokers NCB, showed the services sector grew for the fourteenth month in a row in July.

NCB economist Eunan King said the survey showed that the services sector was mirroring the strength seen in Irish manufacturing. The index rose to 59.4 in July, up from 56.8 the previous month and comfortably ahead of the key 50.0 mark that represents the difference between positive and negative conditions. Mr King said there were positive signs in relation to new business, employment and levels of work in progress. "The overall economy appears to be in good shape."