Activity in Ireland's services sector grew in March to its highest level since February 2001, according to a survey today.
The NCB Purchasing Managers' Services Index, compiled by Dublin's NCB Stockbrokers, said the index rose for a fourth consecutive month to 59.0 - up from 57.8 the previous month. Above 50 signals growth; below 50 contraction.
"This report shows the services sector to be accelerating in that both overall business activity and incoming new business are showing their strongest growth since early 2001," said NCB senior economist Mr Eunan King.
"While employment growth is not yet accelerating at such a rate, the back-up work outstanding will push firms to hire in the months ahead".
The survey said rising business activity was backed by further growth of new business and continued positive sentiment among businesses for the year ahead.