Services sector feels pressure

IRELAND’S services sector expanded at its slowest pace in three months in March as rising costs and falling prices put pressure on the sector’s margins, a survey has shown.

The NCB Purchasing Managers’ Index, which measures activity in the services sector, slipped to 51.1 from 55.1 in February, but remained above the 50-mark separating growth from contraction for the third month in a row.

“Although business activity at Irish service providers increased again over the month, the rate of expansion was much slower than seen in February,” financial information services provider Markit, which compiled the survey, said.