Optimism grows among service sector firms

ENCOURAGING signs emerged from the services sector last month as companies say they are looking to the future with optimism.

The latest NCB purchasing managers’ index showed Ireland’s services sector shrank in June at the slowest pace for more than a year.

The index rose to 42.5 in June from 39.5 in May, the highest level since May 2008, with the gauge of business expectations at a nine-month high of 54.8 — well above the 50 mark which signals growth.