Activity in services sector rises slightly for ninth straight months: NCB
Published 05/10/2011 | 09:22
THE NCB Services Purchasing Managers' Index - which measures activity in the services sector - rose slightly to 51.4 from 51.1 in August.
It remains above the 50 line that separates growth from contraction.
A small increase, but it is the ninth month of growth in a row.
Breaking down the sectors, the index shows that technology is leading the way in terms of new exports.
Chief Economist Brian Devine said that Ireland has invested heavily in attracting the best technology companies in the world to locate in Ireland.
''This is helping investment, employment and confidence in Ireland," the NCB expert added.
The rate of expansion overall was broadly in line with rises seen in the previous two months.
And respondents remain optimistic that activity will be higher in a year's time than current levels.
NCB said a rise in activity in service companies was recorded despite a drop in overall business, with new orders falling at the fastest pace since last December.
However, the stockbrokers noted that new business from abroad has now risen in eight of the past nine months