Growth in services sector

IRELAND’S services sector grew in March for the 16th consecutive month, in sharp contrast to Europe as a whole where the sector contracted.

The NCB Purchasing Managers' Index for the Services Sector in March 2003, published yesterday, showed while growth continued, albeit at a slower rate, employment in the sector continued to contract.

An index based on a survey of purchasing managers at 2,000 euro-region companies fell to 47.7, the lowest in 17 months, from 48.9 in February.