Services sector growth reaches nine-year high

Optimism among service sector firms remains high, on the back of June bringing the strongest level of business growth in nearly nine years.

The latest edition of the monthly services purchasing managers’ index from Investec Ireland shows a 63.3 point reading for June. The index is seen as the main barometer of health for the sector.

Not only is June’s reading ahead of the 50-point mark, which separates a sector in growth mode from one which is contracting, it is also almost two points better off than May’s 61.4 mark and is the highest this year.