Growth in service sector continues

AUGUST was the 51st consecutive month in which companies in the services sector saw growth in business activity, according to the latest NCB purchasing managers’ index for the sector.

Employment levels grew strongly too, but there was an easing in business confidence — although 43% of Irish service firms still expect to see higher activity in 12 months’ time.

“Growth in the services sector remains very robust. However, business expenditure eased back last month — influenced, in part, by concerns about the construction sector,” said NCB chief economist, Dermot O’Brien.