Sunday 21 January 2018

Services sector expanding fast


The Irish services sector expanded at its fastest rate in three months in May, and three times more businesses are reporting growth than decline. Services have not experienced a contraction in almost three years.

Investec's monthly Services Purchasing Managers' Index measures activity in everything from banking to hotels and has now grown for 34 consecutive months.

Output was aided by the weakness of the euro, which allowed for some increases in output prices.

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