Activity in Ireland's key services sector expanded for a tenth consecutive month in March, although the rate of growth eased for the fourth month in a row, figures released today show.
The Purchasing Managers' Services Index, compiled by NCB Stockbrokers, eased from February's level of 57.0 but remained well above the critical no-change mark of 50.0 with a reading of 55.8.
The index has come back from a 19-month high of 59.5 in November.
"While growth continued in clearly positive territory, the pace slowed for business activity and new business," said NCB chief economist Mr Dermot O'Brien.
"It is nonetheless encouraging to see employment accelerate to its best level since December. Input costs continued to rise while competition has kept charges falling," he said.
The survey showed the seventh successive gain in net staffing levels across a panel of some 600 Irish private services companies, with average charges falling for the 12th month in a row.
Although easing slightly on the previous month, business confidence remained strong, with more than three-fifths of the survey panel indicating they expected conditions to improve over the coming year.
The services sector in Ireland accounts for more than half of gross domestic product and over 65 per cent of employment.