Monday 22 January 2018

Irish businesses upbeat about the year ahead- Investec

Ireland's services sector is in positive mood
Ireland's services sector is in positive mood

Sean Duffy

Irish businesses are very optimistic on the outlook for this year with a large number of companies saying they expected a rise in activity, according to the latest Investec Services PMI.

Business activity in Ireland continued to increase sharply during February, according to the survey.

The Investec Services sector PMIs - which measures 450 private sector business in Ireland – showed that customer demand in the country remains very healthy.

The rate of new export business expanded at the fastest rate since July of last year, an indication that the sector is holding up well despite Brexit concerns.

The survey also showed that services firms are expanding employee numbers to meet the strong demand.

However, high staff and fuel costs have pushed up prices for companies, which has dented profitability somewhat.

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