Services sector growth goes on

THE services sector saw significant growth during December, employing more people for the fourth month in a row, according to new figures released yesterday.

The monthly Purchasing Managers’ Index (PMI), published by NCB stockbrokers, showed service-related industries echoed the strong performance recorded last week by the manufacturing sector.

Overall business activity in the services sector rose for the seventh consecutive month but was marginally lower than the recent high recorded in November. Incoming new business also picked up sharply during December, as client spending improved in line with expectations of an economic recovery.