Business Irish

Friday 27 April 2018

Services sector hits seven year high in April

Irish-owned Agile Networks is doubling its workforce over the next eighteen months, creating 16 new full-time jobs in the technology sector
Irish-owned Agile Networks is doubling its workforce over the next eighteen months, creating 16 new full-time jobs in the technology sector

THE services sector in April grew at the fastest rate in seven years with employers adding jobs as the outlook improved with our main trading partners.

The employment sub-index rose to 60 from 58.5, its highest level since 20006.

"Today's report and last week's manufacturing PMI release show strong momentum across much of the private sector in Ireland," said Investec Ireland's chief economist Philip O'Sullivan.

The index rose to 61.9 in April from 60.7 in March with readings above 50 pointing to growth.

"With an improving outlook both at home and across the country's main trading partners, we expect that this momentum will be sustained over the remainder of this year at least," he added.

Finance Minister Michael Noonan said yesterday that Ireland could beat its target to bring the budget deficit down to 4.8pc of gross domestic product this year.

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