Irish services post strong performance

Business activity in the Irish services sector continued to perform strongly in June, the latest NCB Purchasing Managers Index…

Business activity in the Irish services sector continued to perform strongly in June, the latest NCB Purchasing Managers Index reveals.

The seasonally adjusted index stood at 60.5 for June, only slightly below May's high. According to those surveyed, the performance indicated the strong demand for new products and the successful marketing.

Any move above 50 indicates growth.

Growth of activity was reported by 35.6 per cent of respondents in the latest survey period - more than double the proportion that signalled a decline.

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Dermot O'Brien, chief economist at NCB Stockbrokers, said: "The overall index at 60.5 shows strong growth, confidence remains high and new business continues to grow strongly. However, costs continue to rise and charges are falling."