Confidence up in Irish services sector

CONFIDENCE levels and business activity among Irish service industry firms rose in January — with activity advancing at the fastest rate in six months.

The latest monthly services sector purchasing managers’ index (PMI) from NCB Stockbrokers said that the improved weather conditions, after the pre-Christmas snow and ice, drove a solid rebound in business activity in the sector here (after a fall in December); adding that confidence among relevant businesses is up — with most services providers expecting economic conditions to improve over the year.

The driver of that upsurge in confidence — now at its highest level since September — comes from the renewed hope that export markets will remain a key source of growth over the year.