Exports beyond eurozone help services sector hit three-month high

Ireland’s services sector expanded at its fastest rate in three months in April, aided by exports beyond the eurozone, a survey showed yesterday, in a boost for Irish growth prospects after weak manufacturing survey data.

The NCB Purchasing Managers’ Index (PMI) of services sector activity rose to 55.2 from 52.3 in March, comfortably above the 50 line that separates growth from contraction.

“This is a positive release that reflects the ongoing resilience in the Irish services sector,” said Philip O’Sullivan, chief economist at NCB Stockbrokers.