Rise in business from abroad helps push up services activity
Activity in Ireland's services sector remains at a five-year high, having maintained the rapid rate of growth it achieved in October, according to the NCB Purchasing Managers' Index.
The index, which measures activity in the services sector, was unchanged at 56.1 in November, staying at its highest level since late 2007. A reading above 50 denotes an expansion in activity.
NCB said new orders had now grown in five of the past six months, while new business from abroad rose sharply during November, extending the sequence of growth to 16 months. Companies noted higher orders from the US.
Service providers increased their staffing levels in November, marking the sharpest growth in 63 months.
"Companies in the services sector are upbeat about their prospects," said Philip O'Sullivan, chief economist at NCB Stockbrokers.