PMI shows strong business growth

THE Irish service sector showed continued strong growth during December, according to the latest NCB Purchasing Managers’ Index (PMI) for the sector, published yesterday.

The index measured 59.2 for business activity — up from 58.8 in November; an unchanged level of 74.4 for business confidence and 59.4 — up from 58.5 — in new business levels. Any reading above 50 is deemed as growth.

There was an increase in business activity for the 43rd consecutive month and a rise in job levels at Irish service companies for the 40th month in a row.