Business activity in Ireland's key services sector continued its strong growth in April, although the pace slowed slightly from the near three-year high recorded in March, a survey showed today.
The seasonally adjusted Purchasing Managers' Services Index compiled by NTC Research was 59.8 in April, down from 60.6 in March but still well above the critical 50.0 "no-change" mark.
NTC, which surveys about 600 Irish private-sector companies in the services sector, said respondents reported that greater activity reflected rising levels of new business.
"Panellists added that increased marketing, sales drives, and the development of new products also boosted activity."
The business confidence component of the index slipped marginally but was still strong at 74.6 versus 76.4 in March.
"Firms linked their bright outlook to expectations of the continued strength of the Irish economy, new projects set to come on line, and plans for business expansion," NTC said.
At 58.6, the volume of new business reported by the Irish services sector was below March's 60.4, and the pace of job creation slowed to 54.0 in April from 55.2.
In terms of prices, the rise in input costs facing Irish service providers moderated with an index reading of 58.6 versus the 62.7 recorded in March. The increase in prices charged by the sector for their services also slowed, however, with the index at 50.1 versus 52.2.