Job creation in services up as activity hits 7-year high

Services companies recorded a strong finish to last year with activity levels back to the seven-year high seen in June. Job creation in the sector also accelerated sharply to the joint-fastest pace since 2000 as demand resulted in greater staffing requirements.

With the headline rate of the latest Investec Services Purchasing Managers’ Index reaching 62.6 in December, panellists mainly attributed the improvement in output to increased new business, driven by better economic conditions and improved confidence.

Commenting on the index, Investec Ireland chief economist Philip O’Sullivan highlighted the sharp rise in employment in the sector in the final month of 2014.